5 million of small businesses in the UK generate £1T of B2B turnover every year. Unfortunately, with 55 days of average payment terms, UK SMEs continually endure £150B of capital shortage due to unpaid invoices. Cash flow challenges constrain economic growth and are responsible for many business failures – impacting people’s lives and the broader society. In today’s world, this problem can be solved using latest technology and data sharing – and that’s our plan.
Tell me about the business – what it is, what it aims to achieve, who you work with, how you reach customers and so on?
We are a fintech platform that helps small businesses access capital instantly, in a click. Our API-first infrastructure allows our partners to embed the solution into their technology and offer working capital finance to their SME clients at the point of need, 24/7, automatically.
How has the business evolved since its launch? When was this?
We have raised £7M of capital from a group of VCs in Q4 last year and since then focused on building the product. We are aiming to go live with a prototype in the UK in Q2 this year.
Tell us about the working culture at Triver
We define our culture as ‘Low Ego, High Bar’. We are an experienced team of fast-paced entrepreneurs on a mission to solve a huge societal problem and we push radical innovation to achieve this. We don’t take ‘impossible’ as an answer. We are unstoppable.
How are you funded?
Mostly through VCs – Stride VC, Motive Partners and Axeleo Capital our main investors – with some angels who are experts in financial services also helping us.