Bankable acquires embedded finance platform Arex Markets
UK-based Banking-as-a-Service (BaaS) provider Bankable has acquired embedded finance platform Arex Markets for an undisclosed sum.
Bankable acquires Arex Markets
With the acquisition, Bankable will gain the ability to embed credit and working capital into the payment flows of established neobanks, multinational brands and fintech platforms.
Founded in 2014 and based in Barcelona and Dublin, Arex Markets operates a marketplace that provides businesses with access to a suite of credit solutions and connects them with institutional investors to unlock capital.
Bankable says it will add working capital – including flexible invoice financing, corporate credit cards, lodged cards and revolving credit – to its existing API-led digital platform. The firm adds customers will be able to build card, payment and credit solutions on top of the Bankable virtual account core “in minutes”.
Early use cases for the combined offering are being rolled out in the B2B wholesale travel sector as the company looks to provide working capital support for supplier payments.
“Bankable and Arex share the same mission: to offer embedded financial services across Europe to fintechs, established businesses and brands,” says Airto Vienola, CEO of Arex Markets.
