Working Capital Provider Demica Raises $30 Million in Series C

UK based Demica, a working capital Fintech, has closed on a $30 million Series C financing round led by Simcah Management LLC, according to a company release.

Demica is a platform that targets multinational clients all over the world, across industries providing working capital facilities of $50 million to over $750 million. Demica reports over US$16 billion of funding outstanding on the platform provided by a diverse range of banks and institutional investors.

Over the past five years, Demica reports that it has built a rapidly growing Software as a Service (SaaS) platform to manage working capital. During this time Demica claims that it has grown funded programs from $3 billion to $16 billion.

Demica’s mission is to “give treasurers access to the full range of working capital finance products offered by banks around the world.”  This financing round is expected to facilitate adding invoice discounting and distribution finance products to the platform as well as enhancing the syndication and risk distribution functionality. Demica also plans to expand its North American team.

Matt Wreford, CEO of Demica, explained that 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.”

Sponsored Links by DQ Promote


Send this to a friend