Financing fintech Treyd secures further $12 million in extension of Series A funding

  • Extension brings total investment in Stockholm-based Treyd to $25 million

  • Since March 2022 Series A, Treyd has expanded throughout the Nordics and into the UK, increasing customers sixfold and team threefold

  • Latest funding will be used towards achieving profitability, investing in product, and growth in existing markets

Stockholm, 7th September 2023, 08:00 EDT / 13:00 BST / 14:00 CEST - Treyd, the Stockholm-headquartered fintech that pays suppliers upfront on behalf of growing retail businesses, today announces the completion of a $12 million (£9 million) extension of its March 2022 Series A funding. The extension funding brings total investment in Treyd to $25 million (£20m).

The round is led by Swedish investment company Nineyards Equity, which also led Treyd’s Series A round, together with Antler, one of the world’s most active early stage investors, Zenith VC, and J12 Ventures.

The new capital will be used to grow existing markets, invest in the core product offering, and work towards achieving profitability.

In the 15 months since Treyd’s initial $10 million (£8 million) Series A investment, the company has expanded into the UK and throughout the Nordics, increased its customers sixfold to 600+, increased its team size threefold to 60+, and financed $149 million (£117 million) of purchases for fast-growing SMEs in Northern Europe.

Peter Beckman, CEO and Co-Founder of Treyd, comments: “Since launching the “sell first, pay suppliers later” category three years ago, we’ve had an overwhelming response from the brand and retail community. Today, we’re helping the growth of hundreds of the most exciting fast-growing SMEs across the UK and Nordics. With this latest investment, we will be able to yet further improve our support of these and many more companies, by fundamentally upgrading our platform and product offering.”

Stefan Nordahl, Founder and CEO of Nineyards Equity, comments: “We're impressed by what the team has achieved in this short period of time, especially in this market environment. Treyd's ability to deliver cost-effective triple-digit growth while maintaining best-in-class default rates, is a proof point of their ability to navigate and execute, and also the true value-add Treyd brings to SMEs worldwide.”

Oscar S. Westergård, Partner at Antler, comments: “Treyd is meeting real and urgent demand from brand and retail customers, and scaling rapidly in the Nordics and across Europe as a result. The success of Treyd demonstrates the continued growth potential for fintech companies to transform outdated financial practices and drive efficiencies and reduced costs for SMEs. Antler is proud to have backed Treyd founders Peter and Sameh from day zero. They are outstanding entrepreneurs, building world-class technology and a first rate team to realise their vision.”

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

About Nineyards Equity

Nineyards Equity is a scale-up and growth equity investor focused on companies within Tech Enabled, Climate Impact and Frontier Technology. 

Nineyards invests in exceptional entrepreneurs, leading game changing companies looking to scale, and we support them the whole nine yards!

For more details check out our website nineyardsequity.com

About Antler

Antler is the world’s day zero investor that inspires, enables, and invests in visionary founders everywhere. Founded on the belief that talent is everywhere but opportunity is not, we remove the barriers to entrepreneurship so more people can launch sustainable businesses that solve meaningful problems, drive innovation, and improve lives. We partner with the most early-stage entrepreneurs around the world through our residencies in 26 cities across six continents—Austin, Berlin, Bangalore, Jakarta, London, New York, Singapore, Stockholm, Sydney, and beyond. As an extension of our founders’ team, our global community backs them from the beginning and keeps backing them with team formation, deep business model validation, initial capital, global scaling, and follow-on funding, with a personal passion that goes beyond traditional investing. To date, we have brought more than 700 startups into existence that are delivering paradigm-shifting solutions across all industries, with the goal of backing more than 6,000 by 2030.