TradeBridge Secures £70M Credit Line from Castlelake to Boost UK SMEs and eCommerce Growth
TradeBridge, an innovative FinTech lender specializing in embedded finance solutions for small and medium-sized enterprises (SMEs), has successfully secured an additional £70 million financing facility. This funding round was led by the global investment manager Castlelake, solidifying their commitment to supporting SMEs’ growth and financial needs.
New Financing Facility for TradeBridge
The recent £70 million funding follows a previous £100 million facility granted earlier in 2023. This new capital will enhance TradeBridge’s ability to support its expanding clientele in both B2B and B2C eCommerce marketplaces, particularly benefiting UK Amazon sellers through a newly established partnership with the retail giant.
Supporting SMEs with Flexible Financing Solutions
TradeBridge is dedicated to providing flexible and scalable financial solutions to help SMEs access the capital required for growth. With a robust presence in London, Singapore, and Sydney, TradeBridge has already disbursed over £5 billion in capital to SMEs across various sectors and regions.
Castlelake’s Commitment to SME Financing
Castlelake has been a proactive player in private credit and asset-based lending since 2015, deploying over $15 billion into opportunities that support consumer and SME originators. The firm currently manages around $25 billion in assets globally and has acquired or originated more than 20 million consumer receivables accounts.
Statements from Key Leaders
Commenting on the partnership, Castlelake partner Alex Curcio stated, “We are pleased to provide TradeBridge with additional financing as it continues to serve the small-business sector and provide our investors with interesting investment exposure. Like TradeBridge, we understand the difference that creative financing solutions can make to businesses and take pride in playing an increasingly active role in the SME markets as traditional capital retrenches.”
Mark Coxhead, co-CEO of product and portfolio at TradeBridge, added, “Our partnership with Castlelake has been instrumental in extending credit to thousands of SMEs across our multiple ecosystems, in numerous countries. This new facility increases our capacity to support the growth of our marketplace ecosystems, including our recent strategic partnership with Amazon to offer Term Financing to their UK sellers, and enables us to power growth for a broader spectrum of B2B and B2C eCommerce marketplaces and their sellers.”
Conclusion
The additional funding from Castlelake marks a significant milestone for TradeBridge, reinforcing its role in the FinTech landscape as a leading lender for SMEs. This partnership not only facilitates growth for TradeBridge but also supports thousands of small businesses seeking essential financing solutions.
For more information on TradeBridge and its services, visit their official site at TradeBridge.
