Trade Ledger nabs £1.5m in Hambro Perks funding round
Lending platform Trade Ledger has secured £1.5 million in a corporate funding round from Hambro Perks.
Trade Ledger wants to fix a £1.2tn gap
Founded in 2016, Trade Ledger aims to bring automation to the business lending process. Trade Ledger uses financial data APIs, machine learning, artificial intelligence (AI) and robotic process automation (RPA) technologies to “enhance or replace old and costly legacy bank systems” for origination, credit decisioning, and loan management.
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“There is a £1.2 trillion gap in credit that businesses need to optimise growth which is why we created this lendtech,” says Martin McCann, Trade Ledger co-founder.
“We believe that only by reimagining new types of credit services only possible with this lend-tech, can banks solve this massive business problem profitably and at scale globally.
“By leveraging open trade data via APIs alongside other enterprise-grade enabling technologies, financial institutions can drive significant operational efficiencies and product innovation within their internal operations and dramatically increase market share.”
Other investments in the Hambro Perks portfolio include UK paytech Previse, and financial marketplace Capitalise.
“We are delighted to be backing Trade Ledger as Martin, Matt and the Trade Ledger team continue to develop market-leading tech that benefits businesses around the world,” says George Davies, partner at Hambro Perks.
