Sign In

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 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


Tech investments
From our Online Data Service
VC-backed companies
From our Radar

Recent Deals

Nov 25€24.0MInternet commerce
Jul 23€23.0MArtificial Intelligence
Jul 22€20.0MKnowledge management
Jul 5€110.0MOther Biotechnology & Healthcare
Jul 5€13.0MInternet services
Jul 3€3.7MMedical devices
Jul 3€27.0MPayment software

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


Press Releases

May 28
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
nethone raised over $1 million from innovation nest

Mar 31
the fit allocates chf 100'000 to comppair technologies

Jan 29
yumpingo raises $10m to transform guest experiences in restaurants

Oct 1
The Link App
the link app launches version 2.0

About usContact usLegal Information
Copyright 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.