Jerome Le Luel has assembled backing for a new small business lending platform from investors including Stride, an early shareholder in Deliveroo, Sky News understands.
Its board members include Dan Cobley, a former Google UK managing director, and co-founder of the UK fintechs ClearScore and Salary Finance.
Triver has been set up to address the structural challenges confronting SMEs, such as unfavourable payment terms, volatile sales trends and a lack of financial management expertise.Mr Le Luel is understood to have pitched Triver to prospective investors as a business that will help to fill a void left by the major UK high street banks, which have not prioritised underwriting SME credit risk.
Triver will provide advances on SMEs' customer invoices, and is understood to be pledging to do so at a more competitive rate than conventional short-term finance solutions. It intends to utilise Open Banking data, artificial intelligence and digital processing, and use transaction-level insights to understand the likelihood of a business meeting repayment obligations.
One source said Triver would work with digital service providers that SMEs already engage with to manage their finances, such as accounting platforms, digital banks and payment providers.
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