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Carnbrea deal gives fintech Timelio an edge in funding

Melbourne-based fintech Timelio has landed a deal with investment manager Carnbrea for a round of funding that will be directly poured into Australian businesses through Timelio’s online platform.

The funding round, for an undisclosed sum, is part of Timelio’s global ethical income fund, which chief executive Charlotte Petris told The Australian was aimed at serving the growing population of socially conscious investors.

“We are very excited to work with Carnbrea & Co – they are a great partner that aligns with our philosophy and purpose and supports the growth in our marketplace,” Ms Petris said.

“We have historically grown exponentially, seeing demand for funding in our marketplace grow at more than 200 per cent last year with over $300 million of invoices funded since launch.

“Our funding volumes and the size of invoices is higher than ever before.”

“The additional investment will help us to fund much larger transactions and support more businesses.”

Timelio is rivalling traditional banks by offering an online marketplace for invoice and supply chain finance, connecting businesses directly with a network of investors who fund their invoices.

The start-up, which launched in April 2015, was founded by Ms Petris and her husband Andrew and has raised $5.5m of equity funding to date from family offices including Alex Waislitz’s Thorney Investment and Anthony Thompson, founder of Atom and Metro Bank.

Mr Petris predicted major growth in socially responsible investing and funds following – environment, social and governance investing principles over the next five years.

“The sector is still relatively new in Australia with limited opportunities available for investors,” he said.

“The identification of this gap by Timelio and Carnbrea & Co and the launch of the fund is timely, supporting a new and more diverse generation of investors.”

He said Carnbrea’s investment aligned with Timelio’s multi-funder strategy to include institutional investors and super funds. “This enables us to provide the most flexibility in the funding we offer to businesses, further differentiating ourselves from traditional financiers,” he said.

“The new funding sits alongside the Timelio Capital Fund launched in March 2017, which has seen annualised net returns of 7.8 per cent since launch.”

Originally published by The Australian.

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