Finsight in Finexkap's series-A

GLI Finance, a listed financial investor in SMEs, committed $4.1m to the round in July this year. It now has a 26.44% stake in the company.

Finexkap stated it plans to use the cash injection to increase its data and product operations, improve its marketing and make new hires. It will launch in Q4 2014.

Skagit Investments and investment holding company Finam launched their Finsight Ventures Fund in May 2014. The vehicle focuses on fintech investments in the US, south-east Asia and Africa and has a target size of $50-100m.

Company
Paris-headquartered Finexkap was founded in 2012. The web-based platform provides short-term financing to SMEs by purchasing their receivables through refinancing vehicles. According to the company, receivables in French companies were worth around $800bn in 2013 and short-term financing issues cause 25% of bankruptcies in the region.

Finexkap has recently been granted the French Financial Markets Authority's (AMF) regulatory licence.

People
Cédric Teissier and Arthur de Catheu are co-founders and co-CEOs of Finexkap. John Donovan is a partner at Finsight. Geoff Miller is CEO of GLI Finance.

Advisers
Company – Sagax, Luc Hardy (Corporate finance).

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• Topics
• France
• Early-stage
• Financials
• France