VOY Advises Troy on New Financing Round
A team led by Kristian Lutz advised fintech startup troy on its latest financing exceeding EUR 10M.
The South African listed financial services provider Transaction Capital participated in the financing round and is also to bring troy's technology to the markets in South Africa and Australia as a strategic partner.
The investment is used to further expand its position as the Customer Experience leader in debt collection and drive forward its international expansion strategy.
The financial investment by Transaction Capital underpins the strategic importance of this partnership. By licensing troy’s debt collection platform, which has won numerous awards for its market-leading Customer Experience, Transaction Capital plans to unlock new market segments in South Africa and Australia.
Furthermore, the cooperation aims to combine the tangible collection advantages of troy’s approach with the financial strength and pricing experience of Transaction Capital to purchase non-performing loans (NPL) at scale. The bundle with TCRS as the prestigious financing partner and troy as the high-performing collection platform is particularly attractive to NLP sellers, as it both strengthens the competitive NPL pricing landscape and ensures the best possible collection experience for transferred customers. In this regard, NPL sellers will not have to rely on promotional assurances. The partnership has already won a major German bank with this unique package.
troy is a FinTech company that improves the “collection experience” for all parties involved. For consumers, troy combines decades of debt collection experience with technology and proven methods from Customer Experience (CX) Management. In November 2021, troy was awarded the Gold Awards for “Best Digital Customer Experience Financial Services” and for “Customers at the heart of everything <1,000 employees” by globally recognized CX experts at the International Customer Experience Awards (iCXA). For clients, troyexperience achieves the best payment rates and maximum customer retention, provides them with unparalleled transparency down to every single interaction with their customers, and offers scalability to many countries. Thanks to troyplatform, troy can comply with country-specific regulations while achieving an internationally homogeneous, optimal Customer Experience. Thus, troy is the ideal partner for international brands with the highest Customer Experience standards. Today, troy serves the DACH and Benelux markets. To accompany a leading international insurance group, troy will launch in France in the first half of 2022. Thanks to the cooperation with Transaction Capital, Australia, and, as an anchor market of the African continent, South Africa will be added. troy focuses on corporate clients with large-volume B2C and B2SME businesses. Thanks to the optimal customer retention within the collection process, clients in industries with high customer acquisition costs benefit particularly. Therefore, market-leading companies in the telecommunications, eCommerce, publishing, insurance, banking, and utility industries are among the clients.
About Transaction Capital Risk Services
TCRS combines its unique technology, data and analytics competencies to provide a range of digitally enabled business services as a trusted partner to a global client base contributing to the financial sustainability of the communities it serves. TCRS’ diversified business model reduces concentration risk and supports performance in different market conditions. TCRS is diversified by business activity across collection, transactional and value-added services. Within its most significant business activity, collection services, TCRS acts as both a principal in acquiring and then collecting on nonperforming loan portfolios, and as an agent on an outsourced contingency or fee-for-service (FFS) basis. TCRS, via TC Recoveries, is the prominent acquirer of NPL portfolios in the South African market, investing over €50m per year, whilst, via Recoveries Corporation, is one of the prominent contingency collection and PDL acquisition platforms in Australia, managing over EUR 750M in face value at any time and investing over A$20m in NPL portfolios per annum. TCRS is a wholly-owned division of Transaction Capital Limited, which is listed on the Johannesburg Stock Exchange with a current market capitulation in excess of EUR 2BN.
eCAPITAL is a venture capital firm that provides early to growth-stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials, and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists, and potential partners. eCAPITAL is located in Germany, currently manages funds with over EUR 280M under management, and was lead investor of some very successful German exits like Sonnen, Novaled, or Jedox.
VOY is a law firm and tax consultancy for founders and investors creating a digital client experience that focuses on adding value with direct and uncomplicated legal advice of the highest quality.