AREX Markets raises €8.8 million, launches in UK and Spain
Summary
With its novel approach to invoice factoring, Arex Markets has raised €8.8 million in a Series-A round. Arex reports that 95% of all invoices submitted to the platform were financed within 24 hours. Banks remain reluctant to lend to SMEs, often leading to them feeling trapped when it comes to their business finances. We listen carefully to our partners’ and customers’ requirements and liberate the liquidity within their business,” commented CEO Airto Vienola. “We’re already seeing a sharp rise in demand for this service and a willingness for business owners to finally reappraise their financing options, which have been so unfavourable for so long.” The Series-A funding was led by Mosaic Ventures and LocalGlobe, who now join existing investors Lifeline Ventures and angel investor Richard Laxer, former CEO of GE Capital.