London-based fintech TRIVER has secured up to £114 million to expand its AI-powered working capital platform for small businesses. The financing combines a £14 million Series A equity round led by AlleyCorp, with participation from Axeleo Capital, Inkberry Ventures, Stride VC, and others, alongside a significant debt facility backed by HSBC Innovation Banking UK and Avellinia Capital.
HSBC has committed £35 million with a further £35 million available subject to approval, while Avellinia extended its facility to £30 million. Supported by the British Business Bank through its partnership with Avellinia, the facilities increase TRIVER’s lending capacity from £20 million to £65 million, potentially rising to £100 million. Combined with equity, the new capital will enable the company to fund up to £1 billion in invoices annually.
Founded in 2023 by Jerome Le Luel, former Chief Risk Officer at Funding Circle and Global Head of Risk Analytics at Barclays, TRIVER leverages Open Banking data and AI underwriting to advance client invoices instantly. SMEs can set up a facility in 10 minutes and receive funding in under five, compared to banks’ four-week setup and 24-hour funding times. Fees start at 1.8% for a 30-day invoice.
“With 55 days of average payment terms, UK small businesses are constantly owed £150bn in invoices. TRIVER allows them to turn these into instant cash flow, smoothing working capital without new debt” ~ Jerome Le Luel, Founder and CEO.
Since launch, TRIVER has financed more than 17,000 invoices worth £180 million for 1,500 clients, achieving a Net Promoter Score of 94. The company’s API-first platform integrates directly into SME workflows, embedding with digital tools and banks.
TRIVER also announced a partnership with Xero, enabling its accounting customers to convert invoices into instant financing. The fintech already integrates with platforms such as Birdie, Clear Books, Elcom, and Soldo, and works with more than 200 SME lending brokers.
“We’re delighted to support TRIVER with this facility, enabling the company to scale its cash flow finance solution to even more small businesses across the UK” ~ Clare Mitchell, director of fintech at HSBC Innovation Banking UK.
With fresh capital and new integrations, TRIVER plans to accelerate growth and deepen partnerships, aiming to become a central player in embedded SME finance.
