Treyd, the Stockholm-based provider of trade finance and working capital, is expanding its UK operations with plans to double its customer base by 2027, following a significant lending milestone in the country.
Since launching in the UK in 2022, the fintech has provided over £200million in funding to British businesses. The UK has now become the company’s largest market, with over 500 customers currently on its books.
Filling the gap for ‘underserved’ SMEs
Treyd typically serves retail businesses and companies with substantial working capital needs driven by inventory purchases and supplier payment terms. Its clients usually have a turnover above £500,000 and borrow up to £1million in short-term funding, often to support international trade.
The company claims its growth strategy is driven by a gap in the market left by established lenders. According to Treyd, many traditional banks are increasingly focusing on large corporates or businesses with significant collateral like property, leaving a “large number of SMEs without support” for essential products like invoice and inventory financing.
Peter Beckman, CEO and co-founder of Treyd, commented: “Since launching here in 2022, the UK has quickly become our largest market… In our view – and this is informed by our conversations with customers – UK SMEs have been and continue to be underserved by established lenders.”
To support its expansion targets, Treyd has strengthened its credit and customer success teams in London and Stockholm. The platform differentiates itself through speed, often providing funding decisions within 24 hours by allowing companies to link their accounting software directly to Treyd’s system for faster credit checking.
Founded in 2019 by Peter Beckman and Sameh Al-Ansary, Treyd has raised approximately €28million ($30million) in equity funding to date. Beyond the UK and its native Sweden, the company operates in Ireland, Denmark, Finland, and Norway.