Switzerland-based alternative lender Tradeplus24 is set to foray into Australia, its first international expansion.

The move comes after the company raised CHF120m ($121m) in debt and equity in February this year.

The Tradeplus24 team in Australia will be led by Adam Lane. The company aims to serve the ‘significantly underbanked niche’ who struggle to secure alternative loans above $250,000.

Tradeplus24 available credit line ranges between $500,000 and $10m. It also does not require applicants to pledge property as collateral to sanction loan.

The company securitises and uses insurance to underwrite the account receivables of SMEs. Accordingly, it reduces risk for funders and enables it to offer lending services at competitive rates.

Tradeplus24 leverages automated credit technology to assess SME supply chain data and calculate lending risks.

The process enables the company to provide faster and accurate SME lending services.

Lane said: “We believe several characteristics of the Australian business lending market and wider economy make our offering uniquely well-positioned for success in this market.

“Lack of competition in Australia not only reduces the need for banks and larger lenders to innovate, but also means they’re free to release capital largely under their own terms.

“To this end, banks regularly take a charge over an entire business and also secure the loan against the owner’s personal property assets.

“They also struggle to lend without property as security, which is a major factor contributing to the current shortage of capital for Australian SMEs.”