Bankable acquires Arex Markets
The deal will mean Bankable can add embedded working capital to its banking infrastructure core proposition.
Bankable, a Banking-as-a-Service provider, has acquired Arex Markets for an undisclosed sum.
The deal will allow Bankable to bolster its existing platform with a range of working capital options. These include flexible invoice financing, corporate credit cards, lodged cards, and revolving credit.
The company is targeting established neobanks, multinational brands and fintech platforms in its embedded credit push following the integration of Arex.
These include the B2B wholesale travel sector for working capital support on supplier payments, pan-European scale-up fintechs and neo-banks trolling out credit cards and global consumer brands’ building a single payments solutions.
Customers will also now be able to generate customised cards, payment solutions, and credit offerings built on top of the Bankable platform.
“Together with Arex Markets, we share the same entrepreneurial culture and ambition. Thanks to our complementary assets and strong alignment of our teams, we can attract premium clients seeking to develop a uniform pan-European banking offer leveraging our best-in-class API platform including credit. This partnership clearly sets us up with the richest Bank as a Service offer for premium clients with clear multi-country ambitions,” said Eric Mouilleron, CEO & founder of Bankable.
Airto Vienola, CEO of Arex Markets, added: “Bankable and Arex share the same mission: to offer embedded financial services across Europe to fintechs, established businesses and brands. Together with Bankable, we offer both a formidable infrastructure powered by the best technology that gives access to banking-related services that are modular and easy to integrate and the deepest product breadth in the Bank-as-a-Service European market, covering accounts, cards and credit.”
AREX Markets’ investors include LocalGlobe, Lifeline Ventures and Mosaic Ventures.