.jpg){kind=avatar}
Dublin based invoice financing startup Arex has raised €3m in venture funding led by Lifeline Ventures. “We solve cash flow problem of SMBs by creating a live, automated and algorithm-based trading exchange where companies can set their own prices for their invoices,” explains Arex co-founder Perttu Jalkanen. “Arex is enabling both SMBs, and the larger corporates who use us, to instantly turn their unpaid invoices into cash”.
Currently launched in Finland but with plans to expand to the U.K. at the start of next year, Arex — which stands for ‘Account Receivables Exchange’ — is setting out to offer another way for “cash-squeezed SMBs” to access short-term finance. At the same time, rather than simply moving the traditional invoice financing model online, the startup has built a “live, automated and algorithm-based trading exchange” that lets an SMB set the discount at which they want to sell an outstanding invoice and have investors bid in realtime to offer the best rate. Arex charges 0.25 per cent per invoice financed.
unknownx500
