Treyd launches in Ireland, bringing relief to working capital challenge of SMEs via popular inventory financing solution
Stockholm-headquartered Treyd, which already works with over 600 fast-growth SMEs across Northern Europe, has launched in Ireland
Treyd finances inventory purchases, allowing SMEs to free up capital that can be invested in growth
Provides SMEs a modern, simple-to use-option covering all inventory purchases
15.12.23 - Dublin, Ireland: Stockholm-headquartered fintech Treyd today announces that it is bringing its ‘sell first, pay suppliers later’ offering to inventory-based SMEs in Ireland. The launch provides Irish SMEs the benefit of a new way of financing inventory, and follows Treyd’s successful entry into the UK in 2022.
Treyd pays suppliers upfront on behalf of growing retail businesses, which solves the common challenge of having working capital tied up in inventory, thus enabling D2C and B2B SMEs to sell more goods, control cashflow, and finance inventory purchases for up to four months to free up capital for operational growth.
Treyd’s offering will provide Irish SMEs an innovative method of stock financing, providing an alternative to existing revenue-based solutions. Irish SMEs will now be able to extend payment terms on supplier invoices by 120 days, relieving cash flow pressures associated with buying stock.
In 2022, Treyd grew its global customer base of small and medium enterprises by 500% and revenue by 1000%, while also expanding internationally, including into the UK where it now works with over 150 SMEs.
Ben Ingram, Head of Partnerships UK & Ireland at Treyd, comments: “There's no denying the 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's stock financing solution gives SMEs that much needed working capital to continue growth”.
Peter Beckman, CEO and Co-founder of Treyd, comments: “Ireland presents an exciting new market for Treyd and continues the company’s ambitious strategy for global expansion. 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. We’ve already helped more than 650 SMEs worldwide, funding invoices worth over €175m, and are looking forward to building on that with Irish companies.”
***ENDS***
About Treyd
Treyd is a fintech that helps growing businesses thrive by letting them sell products first and pay suppliers later. With simple onboarding and efficient, thorough, and sound risk assessment, Treyd enables merchants to pay suppliers quickly and fully upfront, while maintaining working capital. Treyd has raised USD 25m to date. The company has a team of 60+ with its head office in Sweden and offices in the UK and Egypt. Treyd.io