iLex Closes Seed Funding Round and Signs Memorandum of Understanding (MOU) with IHS Markit
Summary
Corporate Loans Platform iLex Closes Seed Funding Round and Signs Memorandum of Understanding (MOU) with IHS Markit Singapore, 18 June 2020 – iLex, a financial technology start-up that is enabling the transformation of the corporate loan market, today announced that it has closed its seed funding round with strategic and fintech investors from France, Hong Kong, Singapore and the United States. “Despite being the world’s second largest source of capital after equities, the corporate loan market remains primarily relationship-driven and relying on inefficient manual processes,” said Bertrand Billon, CEO and founder of iLex. Billon added, “Currently, banks, which contribute to more than 95% of corporate lending in Asia Pacific, are not fully maximising their loan distribution to connect with smaller, less active though potentially suitable buyers. iLex’s platform will help to address those pain points.” iLex is developing integrated digital solutions that will automate from end-to-end, the largely manual primary syndication and secondary market processes. Commented Billon, “Through strategic partnerships and integration with leading third-party solutions such as those from IHS Markit, we will enable straight-through processing of loan syndication and trading transactions, supported by the highest security, compliance and data privacy standards, as required by the market.