Credit Suisse acquires majority stake in automated lender Tradeplus24
29 November 2017 | 6060 views | 1
Credit Suisse has acquired a majority stake in alternative finance startup Tradeplus24 and plans to offer the Zurich-based firm's lending platform to its own SME customers.
Founded in March 2016, Tradeplus has developed a product that offers a way for SMEs and mid-market companies to increase their working capital and lend against account receivables.
The A-1 financing round was led by SVC-Ltd, the venture capital investment vehicle owned by Credit Suisse and advised by Helvetica Capital AG.
Andreas Gerber, head of SME business at Credit Suisse, says: “The Tradeplus24 lending product, perfectly builds upon our existing lending offering which allows us to reach out to our existing clients but also tap into new market segments.”