Tradico AG, the first Europe-wide online fine trader for the commercial sector, received another round of financing from renowned investors in January 2017. A group of investors, including Henry Ritchotte and Hermann Hauser, is pumping a seven-figure sum into the fintech.
Henry Ritchotte was Chief Operating Officer (COO) and member of the Management Board of Deutsche Bank until the end of 2016. He now invests in promising fintechs through his company RitMir Ventures. Hermann Hauser is one of the founders of computer manufacturer Acorn and chip company ARM. In his long career as a venture capitalist, he has invested in more than 100 companies.
© Tradico
Only a few months ago, Tradico AG had already acquired a extensive investment by well-known players secured: Dieter von Holtzbrinck Ventures (DvH Ventures), Earlybird Venture Capital and Speedinvest invested a total of 2.5 million euros in the startup in September 2016. Tradico AG, founded in 2014 specializes in financing solutions in the area of working capital for companies.
Other European core markets
The Munich-based company and its fine trading financing currently focus on the DA-CH region. Small and medium-sized enterprises seeking bank-independent goods or sales financing can obtain fast and affordable working capital from Tradico without the need to provide standard bank collateral.
Manuel Hehle, CEO of Tradico AG:
"Our entire team is very proud that we have once again been able to attract renowned investors to our innovative business model. Our goal is to use this opportunity to continue our growth path unabated in 2017. We will generate the necessary momentum for this by expanding our customer base to other core European markets, such as the Benelux countries."
