Funding round
TP24 Series A
TP24, which works in business finance solutions in London, raised $120M in a Series A round announced on 8 Feb 2019, led by SIX Fintech Ventures, Berliner Volksbank Ventures and Credit Suisse Entrepreneur Capital Ltd. 4 firms took part, 1 of them already investors.
$120M
Amount raised
120,000,000 CHF converted
Not disclosed
Post-money valuation
4
Investors
3 leads
Valuation
What this round says about the price
TP24 did not disclose a valuation in this round. It is TP24's first venture round on record, 3 years after it was founded in 2016. No later venture round is on record for TP24.
TP24's funding rounds
This is the only venture round on record for TP24.
- Series A this round 8 Feb 2019, led by SIX Fintech Ventures, Berliner Volksbank Ventures and Credit Suisse Entrepreneur Capital Ltd $120M
- Debt not a venture round 19 Jul 2023 $449M
Investors
Who put money in
SIX Fintech Ventures, Berliner Volksbank Ventures and Credit Suisse Entrepreneur Capital Ltd led the round with 1 other firm. Credit Suisse Entrepreneur Capital Ltd had backed TP24 before.
Lead investors
- SIX Fintech Ventures new investor
- Berliner Volksbank Ventures new investor
- Credit Suisse Entrepreneur Capital Ltd existing investor
Also in the round
- Ruvercap new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
30 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $8.5M, and this round was 14 times the median. The closest in time, other companies' Series A rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 21 Feb 2019 | $4.6M | not disclosed | QED Investors |
| Loans & Financing | 29 Jan 2019 | $60M | not disclosed | LL Funds |
| Loans & Financing | 29 Mar 2019 | $15M | not disclosed | CreditEase FinTech Investment Fund |
| Loans & Financing | 1 Mar 2019 | $4.0M | not disclosed | Carpediem Capital |
| Loans & Financing | 4 Mar 2019 | $3.0M | not disclosed | Fen Ventures |
| Loans & Financing | 29 Apr 2019 | $86M | not disclosed | FMO |
| Loans & Financing | 29 May 2019 | $8.0M | not disclosed | Propel Venture Partners |
| Loans & Financing | 3 Nov 2018 | $4.5M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did TP24 raise in its Series A round?
TP24 raised $120M in its Series A round, announced in Feb 2019.
Who led TP24's Series A round?
SIX Fintech Ventures, Berliner Volksbank Ventures and Credit Suisse Entrepreneur Capital Ltd led it, with Ruvercap.
What was TP24's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Loans & Financing?
30 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $8.5M, and this round was 14 times the median.