Bankable, a Banking-as-a-Service supplier, has acquired Arex Markets for an undisclosed sum.
The deal will permit Bankable to bolster its current platform with a spread of working capital choices. These embrace versatile bill financing, company bank cards, lodged playing cards, and revolving credit score.
The corporate is concentrating on established neobanks, multinational manufacturers and fintech platforms in its embedded credit score push following the combination of Arex.
These embrace the B2B wholesale journey sector for working capital help on provider funds, pan-European scale-up fintechs and neo-banks trolling out bank cards and world shopper manufacturers’ constructing a single funds options.
Prospects can even now have the ability to generate customised playing cards, fee options, and credit score choices constructed on high of the Bankable platform.
“Along with Arex Markets, we share the identical entrepreneurial tradition and ambition. Due to our complementary belongings and robust alignment of our groups, we will entice premium shoppers looking for to develop a uniform pan-European banking supply leveraging our best-in-class API platform together with credit score. This partnership clearly units us up with the richest Financial institution as a Service supply for premium shoppers with clear multi-country ambitions,” mentioned Eric Mouilleron, CEO & founding father of Bankable.
Airto Vienola, CEO of Arex Markets, added: “Bankable and Arex share the identical mission: to supply embedded monetary providers throughout Europe to fintechs, established companies and types. Along with Bankable, we provide each a formidable infrastructure powered by the perfect expertise that offers entry to banking-related providers which can be modular and straightforward to combine and the deepest product breadth within the Financial institution-as-a-Service European market, masking accounts, playing cards and credit score.”
AREX Markets’ buyers embrace LocalGlobe, Lifeline Ventures and Mosaic Ventures.
