GLI says Finexkap secures funding

GLIF : GLI says Finexkap secures funding

GLI Finance has announced that its French peer to peer factoring investment, Finexkap, has secured funding of $22.5m ($7.5m in series A equity and $15m to finance lending). Following the transaction GLI has a 26.4% stake in Finexkap.

The other external investors in Finexkap now include Finsight, a globally focused Fintech investment fund which includes partner, and former COO and Board Member of LendingClub, John Donovan, as well as Fintech private investors and family offices. Since its inception, Finexkap has been advised in its financial strategy and fundraising by Luc Hardy of Sagax, an early investor in and advisor of, LendingClub.

Following this fundraising and the granting of the AMF regulatory licence, Finexkap’s platform will fully launch its financing activities in Q4 2014. The announcement says Finexkap’s team is now in discussions with other institutional and corporate investors to prepare it for the next stage of its growth.

James Carthew, who wrote this news item, is a non-executive director of GLI Finance