Micro lending startup ApexPeak to raise massive $200-million fund
Thursday, February 6, 2014
Small companies in need of a smooth cash flow can borrow money from it to pay their invoices. Last year, the startup received seed investment from the Google-sponsored accelerator 88mph and is now raising a massive US$200-million to meet the growing demand of SMEs.
Using the company’s Global Receivables Fund, ApexPeak allows SMEs who are cash-strapped to sell their invoices in return for money. The business uses credit rating data as well as integration with the suppliers of the invoices. Since last year, the company got a bunch of insurance companies on board to make transactions less risky.