Working capital fintech Demica raises $30m

Working capital fintech Demica raises $30m

London-based working capital outfit Demica has closed a $30 million Series C funding round led by Simcah Management.

Demica has built a SaaS platform to manage working capital for over 500 large corporate multinationals financed by 50 global financial institutions.

The new funding will be used to build new platform features and functionality, such as invoice discounting and distribution finance products.

The firm also plans to beef up its North American team as it looks to build deeper relationships with banks and institutional credit investors.

Matt Wreford, CEO, Demica, says: "The trend for working capital finance transactions to be managed on independent third party platforms has accelerated during 2019.

"All parties are looking for flexible financial structures that can be automated with best in class risk mitigation for funders. This investment round takes us another step closer to delivering this vision and transforming how working capital is financed globally."

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