TIM Group, the fintech outfit behind a software platform used by stock brokers to submit trade ideas to clients, has secured £2 million in strategic debt funding from Barclays.
The deal is made up of a £1.5 million term loan and a £500,000 overdraft facility.
Founded in London in 2005 as YouDevise and rebranded in 2011, TIM Group's core product is a platform for salespeople at investment banks to submit trade ideas to their fund manager clients. These clients use filters to control the volume and types of ideas they receive.
The firm is also branching out, with a new investment decision support platform that gives managers daily stock analytics and a price-change indicator, helping them to assess what to invest in and when.
TIM Group now serves 280 brokerages and 370 hedge funds and asset managers, with around 80 employees in offices in London, New York, Boston and Hong Kong.
Explaining the debt funding, Piers Deppe from Barclays says it will support the company's growth plans, adding: "The portfolio of products TIM Group offers its customers is now an integral component of the broker/investor relationship."