Teybridge Capital Europe, a Dublin-based provider of trade finance and working capital for businesses, is projecting that it will reach a valuation of €100 million in the coming years after securing equity and funding investment from a Spanish finance group.
Founded in 2022, Teybridge Capital Europe provides a range of working capital solutions, including invoice financing, purchase order finance, stock finance and debt finance.
Under the terms of the deal, Madrid-based Baghdadi Capital, a family office investment firm specialising in working capital founded by former Barclays banker Baihas Baghdadi, is taking an equity stake and agreed to provide as much as €500 million in funding lines as the company continues to build its client base in Ireland, the UK and the US, Teybridge Capital Europe said in a statement.
It is understood that Baghdadi Capital is taking a minority stake in Teybridge Capital Europe. The projected €100 million valuation is said to be dependent on the company growing according to plan in the coming years.
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Teybridge Capital Europe was founded by Dylan Martin, a one-time supply chain manager, who also previously worked for invoice financing firm PayMe, and Colm Devine, who also once was an employee of PayMe, and AIB. It has 22 employees, split between offices in Dublin and London.
The company has so far deployed approximately €500 million in trade finance and working capital loans to more than 250 clients based in Ireland, the UK and the US.
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It offers lending facilities to small and medium enterprises (SMEs) and corporate clients operating across multiple sectors such as food and beverage, manufacturing and technology through its so-called Bridge platform.
“This investment from Baghdadi Capital is going to supercharge our ability to serve SMEs and corporates across multiple regions,” said Mr Martin, the company’s chief executive. “It expands our reach, strengthens our offering, and brings our Bridge platform to more businesses in need of fast, reliable access to working capital.”
Teybridge Capital Europe operates under a brand licensing agreement with the Teybridge Group, a structured finance firm based in South Africa and Mauritius.
Invoice and inventory financing has been a growing area in the Republic in recent years. Other non-bank players in the sector include Wayflyer, Bibby Financial Services, Grid Finance and FinanceFair.
Baghdadi Capital, which has more than €2.5 billion under management, is an independent working capital provider through its subsidiary, Trade & Working Capital (TWC). The family office already manages the largest working capital book in Spain.
As part of the transaction, Baghdadi Capital will appoint a director to Teybridge Capital Europe’s board.
