• Swindon & Wiltshire News
• Thursday April 27 2023
• Author Name: Peter Davison

Bristol lawyers at Osborne Clarke advise Triver as it raises £7 million to provide small businesses with instant capital in a click

London-based fintech company Triver has announced it has raised £7 million equity from top investors to revolutionise how small businesses can access finance, with the support of lawyers from the Bristol office of law firm Osborne Clarke.

Leveraging open banking data and sophisticated AI, Triver funds SMEs’ short-term working capital needs, underwriting the risk of small business borrowing instantly and automatically.

Faster than high street banks, it can provide advances on a business’s client invoices 24/7, offering peace of mind of simple access to capital when needed.

Through this automated approach, Triver says SMEs can access finance equivalent to up to 20 per cent of their annual turnover, instantly, and at a more competitive rate than other small business financing options in the market.

Transaction-level insights mean Triver understands the likelihood of a small business to pay back.

The venture is backed by Stride, whose team has backed early-stage businesses such as Deliveroo and Zoopla. Other seed investors include Axeleo Capital and Motive Partners, with scout investment from Andreessen Horowitz and Sequoia Capital. Angel investors include Triver’s non-executive director Dan Cobley – former Google UK MD and co-founder of ClearScore and Salary Finance.

Triver is led by CEO founder Jerome Le Luel, one of the world’s foremost experts in deploying advanced credit analytics at world-class lenders. He is former chief risk officer at Funding Circle and former global head of risk analytics for Barclays.

Jerome is joined by a strong founding team who know how to build sophisticated lending technology. They bring expertise gained at Barclays, Capital One, MarketFinance, Credit Karma, BCG, and more.

The Osborne Clarke team which advised Triver included corporate associate director James Taylor (left) and senior associate Adam Turner (right).

Partner Anika Chandra and Bristol-based senior associate Rhiannon Jones advised on employee incentives. Senior associate Jaskirat Singh, who is also based in Bristol, advised on commercial matters and associate Ed Grey advised on employment.