Sign In
NewsRadar

VC fintech frenzy continues with deals in 2 working capital platforms

18 November 2014 18:21
By Tornado Staff

Good news for SMEs in need of quick access to working capital. Within two days investments were announced in two different platforms that offer means to such financing.

In the UK, early-payments fintech business Obillex raised a 3 million funding round led by Dawn Capital and supported by MMC Ventures. The Obillex platform focuses on supply chain finance, providing a solution for companies to rapidly settle supplier invoices. Its links multiple participants to supply chain finance transactions, enabling institutional finance to participate directly in funding suppliers.

Meanwhile, in France, Finexkaps working capital financing platform convinced investors to poor no less than $22.5 million in the business. Investors in the company include GLI Finance, Finsight, private investors and family offices.

The Finexkap platform provides both the tech platform as well as the financing: it purchases SMEs' receivables on the web through refinancing vehicles managed by its subsidiary Finexkap AM. In doing so it provides a short-term funding solution to entrepreneurs needing fast access to financing. The current fundraising includes $7.5 million in Series A equity funding and $15 million to finance its refinancing vehicle allowing it to fund the first batch of receivables.

The technology behind Finexkap is a data-driven credit risk engine. Its statistical models automatically score the user's and the debtor's short-term solvencies, as well as the default rate of the invoices.



Related stories
25 million in fresh funds and 449 million valuation for Westwing
French fashion e-tailer Melijoe.com bags 9 million round led by Gimv
Dutch local borrowing platform Peerby bags 1.7 million
Social media translation startup Reach7 secures second 'seed' round
Digital trading card developer VirtTrade secures Mercia funds


Up
Data


23,898
Tech investments
From our Online Data Service
15,437
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Feb 16€2.0MSatellites
Feb 16N/ABusiness applications
Feb 15€19.0MDisplays
Feb 15€10.0MMedical devices
Feb 15€6.5MMedical devices
Feb 15€16.0ME-Commerce
Feb 15€0.3MSoftware development

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


Jan 2
Urban Jungle
urban jungle raises 1m in seed funding to build tech-enabled home ...

Aug 17
Komed Health
komed health closes seed financing round

Jul 10
Komed Health
komed health to be supported by nokia and deutsche telekom

May 4
Vivet Therapeutics
vivet therapeutics raises 37.5 million in series a

Apr 5
Fliit
logistik-start-up fliit sammelt 1.5 millionen bei seed-finanzierung...





About usContact usLegal Information
Copyright 1999-2018
Emerging Technology Research Europe Inc. All rights reserved.