RTX Routetrader Exchange today announced a new £25 million senior debt financing in partnership with PNC Business Credit, a leading Asset Based Lender to UK mid-market companies and a wholly owned subsidiary of PNC Bank National Association ("…
RTX Routetrader Exchange today announced a new £25 million senior debt financing in partnership with PNC Business Credit, a leading Asset Based Lender to UK mid-market companies and a wholly owned subsidiary of PNC Bank National Association ("PNC Bank"), one of the largest financial institutions in the United States.
RTX’s innovative platform allows its 6000 members across the globe to buy and sell voice and SMS traffic. In a short space of time, it has grown to become the definitive global carrier exchange. The company is experiencing a period of rapid development and was recently listed 18th in the 2015 Sunday Times Tech Track 100.
RTX has solved an issue that had frustrated the telecoms wholesale industry for years and its pioneering technology has become the industry standard for global exchanges. With headquarters in London, RTX provides an international service that allows wholesale carriers and telecoms service providers to buy and sell voice and SMS capacity with added confidence, financial security and expedited payment terms.
PNC enabled this requirement and provided RTX with its first Asset Based Lending facility and the ability to fully exploit its superb market advantage.
Sir Peter Vardy, Chairman at RTX, commented: “I have been a key supporter and investor since RTX’s inception and am delighted to partner with PNC at this key phase in its history.”
Albert Mackey, CEO at RTX, added: “This partnership enables RTX to expand its global footprint and continue to invest in voice, SMS and data platforms, further improving service for its members and increasing revenues.”
Alistair Hood, Regional Director North East & Scotland, PNC Business Credit, explained: “We are delighted to be working with the RTX team and look forward to seeing the business accelerate its growth in the coming years.”
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