Tulyp Raises 1.5 Million Euros to Better Serve SMEs

Created in February 2022 by Maxime Girres and Gilles Jacottet, Tulyp aims to give SMEs access to Trade Finance services previously reserved for large companies. To do this, the young company offers an innovative integrated platform that digitizes and secures the entire guarantee and financing process, for the benefit of SMEs operating on global markets.

The startup has just completed a 1.5 million euro seed round led by Speedinvest, alongside other major investors including Kima Ventures, Purple Ventures and several business angels.

Tulyp wants to bridge the gap between SMEs and large companies

While large companies benefit from major technological advances, which improve the efficiency and transparency of their financial transactions, Tulyp found that SMEs were often left behind by the banks which still hold most of the market.

The young company therefore aims to bridge this gap between SMEs and large companies by providing a centralized and agile platform that allows international transactions to be conducted faster and more securely by protecting both buyers and sellers. “Concretely, we secure import-export transactions between B2B buyers and sellers. We thus eliminate the risks of counterparty and documentary fraud. Through different partnerships, we are also able to help finance these transactions,” explained Maxime Girres, CEO and founder of Tulyp.

The startup is remunerated by taking a percentage of each guaranteed transaction. Its financing partners can also donate part of their income to it. Tulyp now has several dozen clients in Europe, Asia and North America, and aims to reach one million euros in turnover in the next twelve months.

Develop the offer and establish new partnerships

This fundraising will allow Tulyp to accelerate its growth and enrich its offering, in particular by improving the platform and refining its functionalities. The startup also aims to form new strategic partnerships with B2B financing companies and international trade players. “With these funds, we will primarily focus on technology and the development of partnerships. All this with the idea of ​​developing new trade finance services, particularly on issues of credit insurance and Ad Valorem transport insurance,” explained Maxime Girres.

“We are very excited to invest in Tulyp, which plays a major role in revolutionizing SME Trade Finance practices, combating the trust deficit and financing inefficiencies in international transactions . We are convinced that Maxime and his team are the pioneers who will be able to tackle the $500 billion financing gap in this market segment,” declared Alexis Majos, Principal at Speedinvest, in a press release.

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(Featured image by fotoblend via Pixabay)

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First published in Maddyness. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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