Invoice financing marketplace Arex picks up EUR3 mln backing

Wednesday 9 November 2016 14:11 CET | News

Arex, a startup that is taking a marketplace approach to invoice financing for SMBs, has picked up EUR3 million in backing.

Leading the round is Finland’s Lifeline Ventures, alongside London-based LocalGlobe, and various unnamed investors.

Currently launched in Finland but with plans to expand to the UK at the start of 2017, Arex is setting out to offer a solution for SMBs to access short-term finance.

At the same time, the startup has built an automated and algorithm-based trading exchange that lets an SMB set the discount at which they want to sell an outstanding invoice. Arex charges 0.25 per cent per invoice financed.

Arex is enabling both SMBs and the larger corporates to turn their unpaid invoices into cash.

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Keywords: Arex, e-invocing, payments, Finland
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech