Bristol lawyers work on £7m funding drive for tech firm
A team of lawyers from Bristol has worked on a deal which saw a technology firm raise £7m.
London based Triver has raised £7m equity from investors to revolutionise how small businesses can access finance.
The Osborne Clarke team which advised Triver included corporate associate director James Taylor and senior associate Adam Turner, who are both based in the firm’s Bristol office.
Adam Turner
Partner Anika Chandra and Bristol-based senior associate Rhiannon Jones advised on employee incentives.
Senior associate Jaskirat Singh, who is also based in Bristol, advised on commercial matters and associate Ed Grey advised on employment.
Using open banking data and sophisticated AI, Triver funds SMEs’ short-term working capital needs and also underwrites the risk of small business borrowing instantly and automatically.
The technology can provide advances on a business’s client invoices 24/7, offering peace of mind of simple access to capital when needed.
Through this automated approach, SMEs can access finance equivalent to up to 20 per cent of their annual turnover, instantly, and at a more competitive rate than other small business financing options in the market.
The venture is backed by Stride, whose team has backed early-stage businesses such as Deliveroo and Zoopla.
Other seed investors include Axeleo Capital and Motive Partners, with scout investment from Andreessen Horowitz and Sequoia Capital. Angel investors include Triver’s non-executive director Dan Cobley – former Google UK MD and co-founder of ClearScore and Salary Finance.
Triver is led by chief executive and founder Jerome Le Luel, one of the world’s foremost experts in deploying advanced credit analytics at world-class lenders.
He is former chief risk officer at Funding Circle and former global head of risk analytics for Barclays.
Jerome is backed by a founding team who know how to build sophisticated lending technology.
Osborne Clarke’s international financial services sector team advises clients ranging from start-ups, scale-ups/growth businesses and FinTech unicorns to challenger banks, payments, retail and consumer finance, platforms, large corporates and institutions as well as lenders, investors and industry bodies and regulators.
