One of France’s most innovative fintechs, Finexkap, has gone into liquidation. It is a sad end for a company that was once France’s fastest growing fintech. It was conceived by Cedric Teissier and Arthur de Catheu in 2012, and after funding mainly from US and UK investors in 2014 it was launched in 2015. Finexkap was one of the first fintechs to offer a web-based marketplace providing short-term working capital for SMEs. It offered flexible and paperless funding solutions with no volume or timeframe conditions. It grew massively in its early years and secured a tranche of EUR 39m from Chenavari Investment Managers in 2019. Investments in French fintechs were at an all time high in 2019 amounting to almost US 600m (up from USD 328m in 2018) according to FinTechGlobal.
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Posted on Sep 26, 2022 Region: France
Fintech liquidation, Finexkap, Sage, Metro Bank, Vincent Hauss, Cedric Teissier, working capital, SME finance
