Banking-as-a-Service player Bankable has acquired of Arex Markets, giving the combined company the ability to embed credit and working capital into the payment flows of established neobanks, multinational brands and fintech platforms.
Financial terms of the deal were not disclosed.
Bankable will add working capital (flexible invoice financing, corporate credit cards, lodged cards and revolving credit) to its existing API-first digital platform. Customers will have the ability to become ‘Bankable’ and build cards, payments, and credit solutions on top of the Bankable virtual account core in minutes.
Through extensive investor partnerships, Bankable will offer unlimited working capital matched with an extensive portfolio of relevant customers.
Early use cases for the combined offering are being rolled out in the B2B wholesale travel sector for working capital support on supplier payments; supporting pan-European scale-up fintechs and neo-banks in building net new revenues from credit cards; and working with global consumer brands to establish a single payments solution tailored to their needs.
Eric Mouilleron, CEO, Bankable, says: “Thanks to our complementary assets and strong alignment of our teams, we can attract premium clients seeking to develop a uniform pan-European banking offer leveraging our best-in-class API platform including credit. This partnership clearly sets us up with the richest Bank as a Service offer for premium clients with clear multi-country ambitions.”