Digital bank Penta adds €7.5m to Series B fund making €30m in total

Trade Ledger, a lending-as-a-service platform, has raised £13.5m in Series A funding to grow out its sales, marketing and customer delivery teams.

The funding round was led by Point72 Ventures. It was also joined by Foundation Capital, Court Lorenzini, Hambro, Perks and other investors.

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Trade Ledger provides lenders with technology and insights necessary to make better decisions in lending credit to SME and other mid-market segments.

It analyses all the necessary data in the customer life cycle and minimises the risk by automating business lenders’ lending process.

Commenting on the investment, Trade Ledger CEO Martin McCann said: “This new investment will enable us to triple our customer base during 2021.

“Adoption of our technology is critical for the post-pandemic recapitalisation of the economy, and we are driving growth as fast as our capital allows, to be able to support this critical economic need, particularly for SMEs. New digital solutions based on real-time business data are the only way to address it.”

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Point72 Ventures operating partner Alex Tarhini said: “We view Trade Ledger as part of an important wave of companies that are disrupting legacy financial technology and, in doing so, are moving the financial services industry forward.

As part of the agreement, Tarhini will join Trade Ledger board soon.

Trade Ledger was established in 2016 by its present CEO Martin McCann. So far, it has added several global and regional banks as its customers with twelve-fold growth last year.