Finexkap Group announces EUR 39 mln fundraising

What is more, alongside participating existing investors, the company welcomes Chenavari Investment Managers as a new strategic investor.

Out of the fundraising, EUR 7 million will be used to fuel the growth of the group and EUR 32 million will increase the financing capacity of the investment fund managed by Finexkap Asset Management, a wholly-owned subsidiary of Finexkap, which is used by the group to provide financing to its clients.

Created in 2012 and officially launched early 2015, Finexkap Group is the early pioneer of digital platforms forworking capital financing in continental Europe dedicated to independent workers and SMEs.

In practice, Finexkap Group provides working capital financing by purchasing outstanding receivables from its clients, either on its platform or directly onto third-party B2B software providers to which the group connects through its open APIs. In this respect, Finexkap Group has developed two proprietary financing widgets, which can be integrated by its software partners, so that they can offer working capital financing to their client bases without leaving their native environment:

• Cash Market, a working capital financing widget dedicated to B2B marketplaces; and

• Cash Connect, a working capital financing widget.