Finexkap, a web platform offering working capital to small businesses in France, has now raised $22.5 million, comprising of a $7.5m Series A equity round and a further $15m, which will be used to finance the platform’s first flurry of deals. Finexkap is the first French working capital financing platform to purchase SMEs’ receivables on the web through refinancing
The company is pushing at an open door. Short-term financing issues are responsible for more than 25% of French corporate bankruptcies.
Some $4.1m of the Series A round was contributed by GLI Finance, and the total amount of $7.5m equates to a 26.44% ownership stake in the business. The Series A funds will be used to ramp up the platform’s data and product operations, marketing, and hire personnel.
Other investors included Finsight Ventures, a Fintech investment fund and private investors and family offices in the Fintech space.
Mike Butcher (M.B.E.), formerly Editor-at-large of TechCrunch, has written for UK national newspapers and magazines and been named one of the most influential people in European technology by Wired UK. He has spoken at the World Economic Forum, Web Summit, and DLD. He has interviewed Tony Blair, Dmitry Medvedev, Kevin Spacey, Lily Cole, Pavel Durov, Jimmy Wales, and many other tech leaders and celebrities. Mike is a regular broadcaster, appearing on BBC News, Sky News, CNBC, Channel 4, Al Jazeera and Bloomberg. He has also advised UK Prime Ministers and the Mayor of London on tech startup policy, as well as being a judge on The Apprentice UK. GQ magazine named him one of the 100 Most Connected Men in the UK. He is the co-founder of TheEuropas.com (Top 100 listing of European startups); and the non-profits Techfugees.com, TechVets.co, and Startup Coalition. He was awarded an MBE in the Queen’s Birthday Honours list in 2016 for services to the UK technology industry and journalism.