Credit Suisse acquires majority stake in automated lender Tradeplus24

Credit Suisse acquires majority stake in automated lender Tradeplus24

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.”

Comments: (1)

Hitesh Thakkar
Hitesh Thakkar - FIS Payments Software and Services India - India 29 November, 2017, 10:26Be the first to give this comment the thumbs up 0 likes

Great news and Kudos to Tradeplus24 team for all those innovative ideas to build customer base.

Pride for being part of it during initial phase with Tradeplus24.

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