iLex, a trailblazing FinTech, headquartered in London, has announced a significant boost to its funding with an additional $2.5m added to its pre-Series A round, culminating in a total of $7m for this phase.
This funding increment has propelled the total capital raised by the company to $11m since its inception.
The investment round saw contributions from QBN Capital, Eileses Capital, and MI8, supplemented by investments from notable capital market entrepreneurs such as Jean Maynier, Matthieu Delamaire, and Jean-Philippe Malé.
iLex is redefining the syndicated loan market by developing a next-generation distribution platform. The company’s mission is to digitalize and streamline both primary and secondary loan markets through a comprehensive suite that includes deal workspaces, investor and market analytics, portfolio management, and private marketplaces.
The fresh influx of funds will be directed towards advancing iLex’s product roadmap. Key developments include the launch of a new primary syndication solution aimed at accelerating platform adoption across the EMEA and APAC regions. This strategic expansion aims to enhance the platform’s global outreach and operational capabilities.
Since its founding in 2020, iLex has successfully deployed its platform to 30 of the top 50 leading bookrunners worldwide, expanding its network to encompass over 500 active loan desks globally. The company’s rapid growth and adoption underline its critical role in transforming how loans are syndicated in the global financial landscape.
Recently, iLex welcomed Sean Tai as the new Head of Business Development. Tai, a seasoned professional in the syndicated loans arena, previously founded the widely recognized loan syndication platform, Debtdomain. His expertise is expected to drive further innovation and market penetration for iLex.
Bertrand Billon, founder and CEO of iLex, expressed his enthusiasm about the support from industry pioneers. “We are pleased to welcome a group of industry pioneers who have contributed to reshaping the capital markets landscape. Their backing will enable us to build up our platform and deliver new solutions for both primary and secondary markets.”
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![Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”](https://fintech.global/wp-content/uploads/2024/04/rupixen-Q59HmzK38eQ-unsplash-2-324x235.jpg "Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK")
