ApexPeak, a Singapore-headquartered FinTech company, has acquired Netherlands-based ASYX, one of the world’s foremost Supply Chain Finance and Collaboration solutions providers.
ApexPeak offers working capital solutions to high-growth SMEs in emerging markets, providing cash flow solutions to businesses that are underserved by banks. Acquisition terms were not disclosed.
ASYX, with offices in Netherlands and Indonesia, provides a secure web-based supply chain finance platform, serving both local and global clients in 12 countries. The acquisition provides ASYX with long-term financial backing to support its rapidly expanding list of customers and partners. ApexPeak gains a state-of-the-art financial services platform with a growing network of worldwide buyers, sellers, suppliers, and distributors.
Since the 2008 financial crisis, banks have become more constrained in providing business loans. This has resulted in SMEs having great difficulty in obtaining much-needed funding to invest in and grow their operations. By using alternative financing solutions from FinTech companies like ApexPeak, businesses can improve competitiveness, by being able to produce, hire, and expand at a faster rate.
“Our acquisition of ASYX helps move ApexPeak one step closer to solving the procure-to-pay finance puzzle,” says ApexPeak Chief Executive Officer Mr Gakim Solomons. “This is a remarkable value-add acquisition which positions ApexPeak well for rapid short-term growth as well as creating long-term value for shareholders.”
ASYX will remain a distinct brand, and its management and technical team will remain in place, while working with ApexPeak to integrate its technology and customers into an enhanced service offering. The teams will also work together to identify new opportunities to work with banks and corporates to finance and enable the whole supply chain. ASYX will continue to maintain offices in both Netherlands and Jakarta.
The CEO of ASYX, Roel Elshout said, “Being part of the ApexPeak family gives us the financial resources to bolster our existing capabilities as well as invest in future product enhancements. We can now better serve our existing and future customers.”
“By providing businesses with access to smart capital, we want to be that third option for decision makers, alongside bank loans and credit cards, helping them unlock their growth potential,” added Solomons.
In early 2015, ApexPeak acquired Dubai-based Cashnomix, a proprietary cloud-based credit scoring engine that takes a sophisticated data-driven approach to indicate success or failure as the primary credit criteria for approving a deal.
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