FinSight, a New York-headquartered venture fund belonging to leading Russian financial group Finam, has contributed an undisclosed amount to the Series A equity round of French fintech startup Finexkap.
The startup has raised $22.5 million in total, including a $7.5-million capital injection from GLI Finance, FinSight as well as undisclosed private investors and family offices. These funds will be used to ramp up the platform’s data and product operations, marketing, and hire personnel.
A further $15 million will be used to finance the platform’s first flurry of deals.
Launched in 2012, Finexkap claims to be the first French working capital financing platform to purchase SMEs’ receivables on the web through refinancing. The startup already claims more than 700 clients. The receivables it has purchased so far amount to more than 100 million euros.
Source: Maddyness
