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Swedish fintech Treyd expands to Ireland

The buy now pay later service for supplier invoices pays suppliers up front and gives SMEs four months to pay back

Treyd

Martin Vercouter, Mahmoud Fathy, Peter Beckman, Sameh El-Ansary, Ahmed Kamal/Treyd

Stockholm-headquartered fintech Treyd is launching in Ireland with its ‘sell first, pay suppliers later’ offer for inventory-based SMEs.

Following its launch in the UK last year, the expansion will provide Irish SMEs with new options for financing inventory, giving them the option to free up capital that can then be invested in growth.

Treyd works by paying suppliers upfront for retail businesses, allowing both direct-to-consumer and B2B SMEs to sell more goods, have better cashflow control and finance inventory purchases for up to four months.

“There's no denying the funding landscape for SMEs has changed over the past 12 months: banks have tightened up credit process, and venture capital is not as easily accessible,” Treyd head of partnerships UK and Ireland said.

“Treyd's stock financing solution gives SMEs that much-needed working capital to continue growth”.

The company has worked with more than 600 “fast-growth” SMEs in Northern Europe, and has said last year it grew its global customer base by 500 per cent, with revenue increasing by 1000 per cent while it expanded internationally.

In the UK it now works with more than 150 SMEs, and said that Ireland is an “exciting new market” for the company’s “ambitious” global expansion strategy.

“Since our UK launch in 2022 we have been progressively developing our plan to open in Ireland to provide a sustainable solution for local SMEs and businesses to grow,” Treyd co-founder and CEO Peter Beckman said.

Set to continue growing with its expansion to Ireland, according to Beckman Treyd has funded invoices worth over €175m for more than 650 SMEs worldwide.

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