BDO engaged for equity raise for Fintech Tradeplus24 Australia
30 June 2020
BDO Australia has been engaged by the Credit Suisse-backed SME lending fintech Tradeplus24 Australia to secure $5 million in equity to support the rapid growth of its Australian business.
Tradeplus24’s line of credit product ranges between $500,000 and $10 million and does not require property as collateral, positioning them well to support Australia’s 2+ million SMEs.
This also allows Tradeplus24 to meet the need of a significantly underserviced part of the Australian market, wherein alternative lenders typically cap loan sizes at $250,000 but traditional lenders usually struggle to structure cashflow finance under $5 million without property security.
Despite market volatility, Tradeplus24 has already received strong interest from a number of institutional and private investors.
Read more in the AFR: www.afr.com/street-talk/credit-suisse-backed-fintech-s-local-outpost-seeks-fresh-equity-20200624-p555tz
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