ABN Amro provides £25 million credit line to alternative lender TradeRiver
14 February 2017 | 2654 views | 0
ABN AMRO Commercial Finance has provided growing Fintech alternative financier TradeRiver (UK) Ltd a funding solution which will enable the company to realise future growth ambitions.
TradeRiver (UK) Ltd provides UK SME businesses with unsecured revolving credit facilities to fund purchases of goods or services. The business has been growing significantly in the past 12 months with new staff and customers taken and winning the Direct Lending Platform of the Year category for AltiFi 2016 Awards.
The back to back style funding solution involves up to £25m including an accordion.
CEO Richard Fossett says “TradeRiver is excited to announce ABN AMRO Commercial Finance as our new primary debt provider. The significantly increased level of funding supports both the growth of TradeRiver and that of our customers. We’re delighted that ABN AMRO Commercial Finance has taken time to understand how our unsecured funding model operates and how TradeRiver will help British companies grow. TradeRiver can provide more SME and MME companies with the flexibility and capability to quickly take advantage of their growth opportunities.”
ABN AMRO’s Director - Corporate Client Origination, Jeremy Smith, commented: “It’s always exciting to support a business that is in turn committed to helping businesses grow and we have experience in structuring creative funding solutions for this sector. We were really impressed with TradeRiver’s achievements to date and ambitions for the future and were happy to return this with a demonstration of our appetite for a proactive and long-term partnership.”