13th Nov 2014 10:21
LONDON (Alliance News) - GLI Finance Ltd Thursday said Finexkap, one of its platform investments, has completed a USD22.5 million fundraising, comprising USD7.5 million in Series A equity funding and USD15 million to finance its lending operations.
GLI Finance invests in the alternative finance sector. It says Finexkap is the first French working capital financing platform to purchase small business receivables on the web through refinancing vehicles.
GLI Finance invested USD4.1 million in Finexkap in July as part of the Series A funding round and now has a 26.44% equity stake in the company following completion of the overall fundraising.
GLI Finance shares were up 0.7% at 58.53 pence Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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