Triver has raised a £20m debt facility from Luxembourg-based Avellinia Capital.
In brief:
-The new cash, Triver says, will help it lend £200m of funding annually to small businesses in the UK.
-It was founded by the former chief risk officer at Funding Circle Jerome Le Luel.
-It raised a £7m funding round in April that saw investors including Stride, Axeleo, Motive Partners, Andreessen Horowitz and Sequoia back the company.
What does this mean?
“The vast majority of SMEs we interact with are willing to grant us access to their bank data via Open Banking. They’re familiar with this tool because it is commonly used with their accounting software,” Jerome Le Luel, Trivia’s founder and CEO said.
