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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.

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