Stroodles – the British edible tableware retailer that has made headlines worldwide for its food-based, biodegradable dining products – has partnered with ‘sell first, pay suppliers later’ fintech Treyd to capitalise on Stroodles’ already explosive growth.
Stroodles began revolutionising the notoriously unsustainable drinking straws sector in 2019 with its pasta-based straws; its range has since grown to encompass edible (wheat-based) cutlery, crockery, and most recently even play, activity kits. Stroodles products are now sold at Selfridges, Fenwick’s, and Oliver Bonas, and the company counts Marriott, Hilton, and the Alchemist amongst its wholesale clients.
To fuel the growing demand for its products internationally, Stroodles has entered a partnership with Stockholm-based Treyd, which helps retail SMEs to grow by providing upfront financing for paying suppliers in advance. The partnership will enable Stroodles to continue to expand its production as well as freeing up capital to invest in R&D.
Cashflow is a recurrent issue for food & beverage SMEs due to typically long payment terms – meaning SMEs can be out of pocket for many months on end – and more than ever in the current economic climate. Treyd provides growth opportunities to long-shelf-life F&B retailers that are cheaper than investment and more flexible and attainable than bank loans.
Last year, Treyd grew its global customer base of small and medium enterprises by 500% and revenue by 1000%, while also expanding internationally including into the UK. It now works with over 600 retail SMEs across Northern Europe, 150 of which are British.
Maxim Gelmann, Founder and CEO at Stroodles, commented: “We are very grateful to the team from Treyd. Treyd has given Stroodles more business flexibility and peace of mind, enabling us to scale quicker and further as we can now hold more stock – rather than having to order just in time and be at the mercy of logistics! In turn, we can react to urgent demand, fulfil more orders, grow income, and subsequently attract more repeat orders, while proactively dealing with the cash flow gap between stock payment and sell out. Treyd enables me to inspire more people with how straightforward and fun sustainability can be.”
“Stroodles is a remarkable company that is creating genuine positive change in the world, and we’re very proud to be able to play a part in its growth journey,” Peter Beckman, CEO of Treyd, commented. “Stroodles is really the perfect example of where Treyd’s solution can help – a unique idea and strong growth trajectory, but which would be constrained in its growth journey due to the ubiquitous problems that face physical goods retail SMEs. It’s our privilege to help Stroodles, and hundreds of other fast-growth SMEs like it, to fulfil their vast potential.”