4Trans provides financial products for small and medium sized companies operating in supply and logistics. This is an industry that is currently very poorly served by traditional financial services. A lack of working capital, 90-day invoice maturities and often expensive or unattainable bank financing is something the majority of the 500,000 logistics companies in Europe really struggle with.
We solve this via our AI driven factoring service. This enables logistics companies and hauliers to gain immediate payment of issued invoices and verification of payment behaviour of debtors. As a result, businesses are able to protect their finances.
By using data analysis and automation, 4Trans is able to do instant risk modelling and, as the service is fully digitalised, customers can receive payment of invoices of any size in five minutes. This is in contrast to the three month average for invoice payments. Our service has proved massively popular – we have already provided a total volume of financed invoices worth over €40 million. 4Tran’s goal is to become the leader in SME financing in Europe.
What do you think makes 4Trans unique?
We are the only fintech that is geared towards helping individual hauliers and SMEs solve their financial problems in this way. The supply chain crisis alongside political and economic uncertainty has led to a huge increase in delays to invoices being paid.
This has put considerable financial pressure on Europe’s small and medium sized hauliers. Unfortunately, most traditional financial institutions simply do not cater to this group and those that do take too long to provide financing or require very large invoices. We’ve created a range of solutions that give the small and independent entrepreneurs within the European supply chain the protection they need and deserve.
What makes 4Trans truly special is that we’re leveraging a range of cutting edge tech like AI, automation and digitalisation to give our customers the best possible experience. We prioritise speed and ease of use because we know that any time spent sorting out financial admin is time when our customers aren’t on the road or running their business. Most customers can get their invoices sorted with a few button clicks – it’s difficult to overstate just how much peace of mind this provides.
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How has the company evolved over the last couple of years?
4Trans is still a relatively new startup. We only fully launched our services in Europe in the past 18 months. In that time we’ve seen growth skyrocket, landed one of the largest Seed Rounds in Czech tech history and perfected our initial offering to our customers. At the moment we’re concentrating on growing our team with a view to rolling out our services to more European countries.
What can we hope to see from 4Trans in the future?
4Trans is at the beginning of its journey. There is a lot more we can do to help small companies operating in the supply chain. We plan to radically expand the range of financial products we offer and take our services to every European country. Ultimately, we want to expand beyond the supply chain sector to cater to any SME that has difficulty accessinging the financial industry.
Our belief is that by tackling financial exclusion and underbanking we can really make a difference to people’s lives by giving them the tools they need to grow their businesses on an even playing field.