Mosaic Ventures and LocalGlobe led the round, joining existing investors Lifeline Ventures and angel investor Richard Laxer. AREX had previously raised seed funding of EUR 3 million in 2016.
With this funding, AREX has launched in the UK and Spain with its proprietary technology that delivers embedded lending into accounting systems, allowing SME’s access to a competitive financing marketplace. The AREX technology integrates into customers’ software and processes by using data to drive automation of the financing workflow.
The AREX platform opens up an alternative to traditional invoice financing, facilitating a live, algorithm-based trade that enables SME’s to get access to cash trapped in their debtor book and allowing professional investors to invest in SME assets directly without prohibitive transaction costs.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.