Invoice trading platform Arex lands €3m

Finish invoice trading platform Arex has closed a €3m financing round led by venture capital firm Lifeline Ventures.

The round also featured participation from UK-based venture capital firm LocalGlobe and angel investors according to the company.

Founded in 2014 , Arex provides an invoice trading platform on which small and medium-sized businesses (SMBs) can sell their unpaid invoices, with control over the terms of their financing.

It intends to use the new funds for further product development and to launch into the UK market.

The Helsinki-based company is due to launch in the UK next year, and currently has offices in London and Barcelona.

LocalGlobe’s previous investments include mortgage platform Trussle, Commerce fraud prevention business Riskified, stock trader Robinhood, money transfer startup TransferWise, among others.

Copyright © 2016 FINTECH GLOBAL

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