Tradeplus24 Review
Tradeplus24, now trading as TP24, is a Zurich-founded fintech that lends to UK B2B SMEs through CreditLine: a revolving credit facility from £250,000 to £5,000,000 secured on your receivables, priced at a facility fee from 1% plus an arrangement fee of 1% to 3.5%, with interest only on what you draw (TP24 CreditLine). It launched in the UK in February 2022 (Tradeplus24 UK launch) and connects with Xero, Sage and QuickBooks among others to pull debtor data automatically. The cross-border European heritage is a strength for UK exporters trading with EU customers; for pure-UK ledgers the offering competes with domestic fintech providers rather than the traditional Bibby / Close Brothers / Aldermore set.
What this page covers
This page covers
Tradeplus24 (TP24) CreditLine, pricing, accounting integrations, UK launch and cross-border positioning
Not covered here
Selective and single-invoice finance (see /providers/), general invoice finance education (see /guides/), sector pages (see /industries/)
Key Facts
How Tradeplus24 Works
TP24 takes in your debtor data, by API from supported accounting software or by upload, sorts receivables into eligible and non-eligible, and sets your credit limit from the eligible ones. It says the limit is insured by its partner Allianz and can be recalculated daily, so your CreditLine grows as your receivables grow.
You then draw funds as needed and pay interest only on the amount drawn. TP24 says it takes no personal guarantee or floating charge and uses no lock-in agreement or trust account.
The group also lends in Switzerland, the Netherlands and Australia, and at its UK launch said it could fund international trade receivables as well as domestic ones, which is relevant for UK SMEs invoicing EU customers.
Pros and Cons
Strengths
- Strong accounting software integration (Xero, Sage, QuickBooks)
- Interest only on funds drawn; no lock-in or trust account
- Cross-border European trade experience
- Credit limit recalculated as receivables grow
- No personal guarantee or floating charge, per TP24
Limitations
- A credit line from £250,000, so no option to fund single invoices and not for small facilities
- Less UK brand recognition vs Bibby, Close Brothers, Aldermore
- UK regional relationship management thinner than domestic providers
- Sector-specific expertise (construction, recruitment) more limited than UK specialists
- Younger UK operation (launched 2022) than the domestic incumbents
Best For / Less Suitable For
Best for
- Tech-forward UK SMEs running Xero, Sage, QuickBooks or another supported package
- UK businesses with meaningful EU customer base needing cross-border invoice finance
- Established companies with a debtor book large enough for a £250,000-plus credit line
- Businesses that want to minimise manual reconciliation workload
Less suitable for
- Businesses that want to fund only occasional invoices (use selective providers, see selective)
- Construction stage-billing or retention release (use construction specialists)
- Recruitment payroll-cycle facilities (use Sonovate or specialist recruitment lenders)
- Businesses needing strong UK-regional relationship management on complex files
Pricing Reality
TP24 publishes the structure of its pricing but not the interest rate, which is set in the offer it makes you (TP24 CreditLine).
- Facility fee: from 1%
- Arrangement fee: 1% to 3.5%
- Interest: only on the amount you draw; rate set in your offer
- Facility size: £250,000 to £5,000,000
- Setup time: about 1 to 2 weeks, per TP24
Use the cost calculator to model your specific Tradeplus24 facility.
How Tradeplus24 Compares
| Vs. | Tradeplus24 wins on | Other wins on |
|---|---|---|
| Bibby Financial Services | Digital platform polish, real-time dashboard, cross-border EU experience | UK brand recognition, sector specialism, regional relationship managers, scale |
| Aldermore | Accounting software integration, fully digital onboarding | UK banking licence, longer track record, regional teams |
| Hydr | Larger credit lines (to £5m), cross-border experience, established Swiss parent | Selective invoice finance, lower minimum turnover, faster decisions on small files |
Application Path
TP24 sets out four steps: get in touch, give it access to your cloud accounting and debtor book, receive an offer after its assessment, and your CreditLine is set up and ready to draw. It expects the standard process to take 1 to 2 weeks, and asks for a weekly update of your receivables once live.
Our Verdict
Tradeplus24 (TP24) is a credible fintech option for UK SMEs that want a receivables-backed credit line of £250,000 or more with cloud-accounting integration. The European parent and cross-border experience adds meaningful capability for UK exporters trading with EU customers.
The shorter UK trading history and thinner regional relationship management compared to Bibby, Close Brothers, or Aldermore is the trade-off. For tech-forward applicants with a debtor book big enough for the £250,000 minimum and no sector-specific complexity, worth a quote.
For construction, recruitment, or other sector-specific files, compare alongside UK specialists.
Official site: Tradeplus24
Founder & Managing Director, Muswell Rose, founder and PSC of Best Business Loans Ltd
Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind Market Invoice. He spent over three years as managing director of Penny, a UK invoice finance business, and his career runs through insurance, mortgages, commercial finance and fintech lending. He writes the Market Invoice library.
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