News19.02.2017
Henry Ritchotte invests in Tradico
Tradico AG, the first online finetrader for the commercial sector with Europe-wide operations, received a further round of funding from well-known investors.
A group of investors, including names like Henry Ritchotte and Hermann Hauser, has invested more than EUR 1,000,000 in the fintech company. Henry Ritchotte was Chief Operating Officer (COO) and a Member of the Executive Board at 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 the computer maker Acorn and the chip manufacturer ARM.
Manuel Hehle, CEO at Tradico AG says, “Our whole team is very proud that we’ve once again been able to make our innovative business model attractive to well-known investors. It’s now our goal to continue our growth course unabated in 2017 using this boost to our business. This will give us the necessary dynamism to expand our customer base to other key European markets – for instance, the Benelux countries.“
Tradico AG was able to secure an extensive investment from well-known stakeholders just a few months ago: Dieter von Holtzbrinck Ventures (DvH Ventures), Earlybird Venture Capital and Speedinvest invested a sum totaling EUR 2.5 million in the startup in September 2016. Tradico AG, which was founded in 2014, has specialized in financing solutions by providing working capital for enterprises.
The major focus for Tradico AG and its finetrading funding operations is still in the German-speaking world at the moment. Medium-sized enterprises, which are looking for funding for goods or sales outside banks, obtain fast and low-cost working capital from Tradico without having to deposit normal bank securities in return.