“We discovered that many companies were facing the same dilemma. They paid their suppliers upfront, making it extremely difficult to grow as a smaller company. They have the customers, margins, and profitability, but are forced to turn down orders because they don’t have the money to stock up,” explains Peter Beckman.
Treyd’s solution was to offer companies a credit line that they could pay back within four months. This way, companies can increase their margins, take on larger orders, and get better prices. The success was immediate, with Treyd growing at times by over 50 percent per month.
Article in Breakit: Scalup Treyd is now able to help even more companies with financing
Thanks to Zwapgrid’s solution, the fast-growing Swedish company Treyd can help more businesses thrive. “Everything becomes easier, both for us and the customer,” says Treyd’s founder, Peter Beckman.
Imagine starting an e-commerce business that becomes so successful that you can’t afford to grow. Does that sound paradoxical? The problem is actually bigger than one might think, which led Swedish entrepreneur Peter Beckman, along with Sameh El-Ansary, to start the credit service Treyd.
We have built an AI that analyzes all the data
Then, Treyd ran into their own problems. To offer customers credit, Treyd needs access to companies’ accounting and bank data.
“We built an AI that analyzes all the data so the customer doesn’t have to fill in all the information. We can more easily verify that everything is correct, which provides greater security for both us and the customer. However, we previously had incomplete data from countries like Finland and Denmark.”
The SaaS company Zwapgrid offered a solution. Through Zwapgrid’s API, banks, fintech companies, and SaaS companies can, with a simple integration, retrieve and send data in all the most common financial systems for small and medium-sized businesses.
“Thanks to Zwapgrid, we get access to all the data in more countries. Another problem they solved for us is our specific requirements for how the data needs to be structured to further develop our service. Zwapgrid has been very forward-leaning and has developed and adapted their platform to our needs. For us, it has been a key factor,” says Peter Beckman.
He also highlights the maturity of Zwapgrid’s solution.
“You don’t want to end up in a situation where you’re helping a provider develop their product. Despite being a small team, Zwapgrid has a well-functioning product with uncomplicated integrations. Things just work, simply put.”
Zwapgrid’s system delivers very direct customer value
Now, thanks to Zwapgrid, Treyd can help more merchants achieve their ambitious goals.
“When we have access to all the data, the risk is lower for us because we can better understand the companies’ needs. It reduces our operational burden, and everything becomes easier, both for us and the customer.”
“Zwapgrid’s system delivers very direct customer value. We can now help companies that historically would have been rejected.”