Bankable, a UK-based Banking-as-a-Service provider, has acquired Arex Markets, an embedded finance platform. This acquisition will enable Bankable to incorporate credit and working capital into the payment processes of neobanks, multinational brands, and fintech platforms.
Facts
- Bankable has acquired Arex Markets, an embedded finance platform based in Barcelona and Dublin.
- With this acquisition, Bankable gains the ability to embed credit and working capital into the payment flows of established neobanks, multinational brands, and fintech platforms.
- Arex Markets operates a marketplace that connects businesses with institutional investors, providing access to various credit solutions.
- Bankable plans to enhance its existing API-led digital platform by adding working capital, including flexible invoice financing, corporate credit cards, lodged cards, and revolving credit.
- Customers will be able to build cards, payments, and credit solutions on top of Bankable’s virtual account core within minutes.
- The combined offering of Bankable and Arex Markets will initially target the B2B wholesale travel sector, providing working capital support for supplier payments.
- Eric Mouilleron, CEO and founder of Bankable, anticipates attracting premium clients interested in developing a unified pan-European banking offer by leveraging the comprehensive API platform, including credit, provided by the acquisition.
