Swiss Lending Platform TP24 Secures Mezzanine Funding From Channel Capitalby Fintechnews Switzerland January 31, 2023
Zurich-based lending platform TP24 announced that it has secured mezzanine financing for an undisclosed sum from Channel Capital Advisors.
The mezzanine funding will enable TP24 to free up equity capital to fuel its business growth and drive its global expansion plans.
TP24 is a data-driven business lender providing working capital facilities to SMEs seeking a reliable financing solution.
Paul Wilson, Channel’s Chief Investment Officer said,
“We’re delighted to support TP24’s ambitious growth plans through the delivery of strategic financing. The mezzanine facility will enable TP24 to free up the capital required to fund their business expansion and expand internationally.
This transaction is an excellent example of how Channel’s funds can add value to our partners’ growth plans, while also delivering exceptional returns for our investors.”
Matthias Kribbel, Co-founder and Managing Director at TP24 said,
“The mezzanine tranche is an important step for our European business, enabling us to further grow our book of SME credit facilities.
Our receivables-backed financing solution not only provides mid-sized businesses with much needed liquidity, it also enables them to become more independent from banks.”
Featured image credit: edited from freepik,