TreviPay partners with FIS to fund continued global expansion
When global B2B payments company TreviPay needed a better funding alternative, it turned to FIS Supply Chain Finance (formerly Demica)At a glance
Featured product
FIS Supply Chain Finance Suite
Objective
Find a less restrictive and cumbersome alternative to a legacy asset-backed credit facility program.
Results
Replaced inflexible asset-backed loan (ABL) with a more advantageous off-balance sheet securitization and invoice discounting program.
Impact
The solution grows as the company grows, allowing it to offer flexible payment terms to an ever-greater number of B2B buyers while streamlining processes, reducing overhead and improving reporting.
Client profile
TreviPay’s global B2B payments and invoicing network enables enterprises to provide payments choice and convenience, open new markets and automate accounts receivables. Powering more than $8 billion in global trade, TreviPay was named a Leader in the IDC MarketScape for Worldwide Embedded Payment Applications 2024-2025 Vendor Assessment (#US51793524, Dec. 2024).
Reassessing financing
As a fast growth fintech, flexible financing is vital to TreviPay as it manages money movement. When the company was acquired by private equity firm Corsair in 2020, it put in place a $175 million on-balance sheet asset-backed loan. However, it soon became clear that a better alternative was needed. “That legacy asset-backed credit facility program was very restrictive and cumbersome,” says Joel Campbell, CFO at TreviPay. “We had several funders that were providing liquidity into that facility, with quite onerous constraints and challenging reporting mechanisms that we had to adhere to every month.”
A tailored solution
FIS Supply Chain Finance (formerly Demica) designed a $215 bespoke funding solution for TreviPay that featured:
- Multiple products, including receivables discounting and securitization
- Off-balance sheet
- Management through a single platform
- A securitization structure that allows for future growth
Campbell and his team began to look for a more advantageous arrangement. Ideally, the replacement funding solution would be off-balance sheet, with a reduced cost and a much lower administrative burden. In their discussions with FIS® Supply Chain Finance (formerly Demica), it became clear that simply replacing the ABL was not enough. Instead, a customized solution powered by the FIS Supply Chain Finance Suite (formerly Demica) was structured as a dual transaction – a securitization together with an invoice discounting facility – to fund the breadth of TreviPay’s receivables.
Streamlined process
When the new facility went live, it replaced $175 million of on-balance sheet ABLs with a flexible $215 million off-balance sheet securitization and invoice discounting program. Crucially for TreviPay, the facility can grow as the company grows, allowing it to offer flexible payment terms to an ever-greater number of B2B buyers.
Equally important, the cumbersome and restrictive administrative overhead has been removed and replaced with a streamlined process using the FIS Supply Chain Finance Platform, including reporting receivables transactions daily. FIS Supply Chain Finance (formerly Demica) continues to work with TreviPay to ensure that the level of funding generated through the receivables finance facility increases in step with the business.
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