Channel announced today a further upsize of its mezzanine investment into the credit facility of Tradeplus24 AG (TP24). The company provides fast and seamless finance to SMEs in global markets secured by accounts receivable working capital.
As incumbent lenders continue to pull back from supporting small and medium sized enterprises (SMEs), firms like TP24 are supporting SMEs in Europe, UK and Australia with funding lines of £250,000 to £5 million. Walter Gontarek, Channel CEO/chair, said “It is a pleasure to support TradePlus 24 in growing its business, portfolio and client base”.
Matthias Kribbel, Managing Director TP24 Switzerland, said “We appreciate Channel’s continued support in providing financing for underfunded SMEs. This marks the second increase of this facility within a year, showing the exceptional trust in the strengths of our loan book and security structure”.