Neu Capital acted as sole debt advisor to the global TP24 team, raising A$585m across multiple geographies in AUD, GBP and EUR to fund the growth of their Australian, Swiss, UK and Dutch portfolios.

TP24 is a receivables-backed financier of SMEs established in Zurich, Switzerland. The TP24 founders, with extensive background in global banking, recognised an urgent need for change in the SME lending space. They observed a lack of competition, frequently compelling SMEs to pledge personal assets as security, resulting in inefficient and low-tech practices.

Having established the business in Switzerland, TP24 looked to expand to new markets, first targeting Australia, then the UK and Netherlands. At each stage, Neu Capital advised and arranged funding lines to support ramp up of the local portfolios.

These individual funding lines were pre-determined strategic milestones in a broader funding strategy, culminating in a global multi-currency, multi tranche structure integrating bank and non bank capital at warehouse and OpCo levels.

  • The Neu Capital solution delivered a multi-tranche structure across GBP, EUR and AUD funding lines, sequenced with the requisite junior capital to provide a scalable growth solution while lowering the average cost of funds and equity requirements as quickly as possible.

The warehouse finance facility was secured from Barclays Plc and asset manager M&G Plc.

Notably, this transaction marked Barclays’ re-entry into the Australian securitisation market.

You can read more information here. 

Link to AFR article here. 

Case Studies