BaaS Fintech Bankable Acquires Embedded Finance Firm Arex Markets

Banking-as-a-Service Fintech Bankable has reportedly acquired Arex Markets, giving the combined business entity the capability to effectively embed credit and working capital into the payment channels of major neobanks, multinational/global brands as well as Fintech platforms.

Financial terms of the transactions have not been shared publicly.

Bankable will now be adding working capital (“flexible” invoice financing, corporate credit cards, lodged cards & revolving credit) to its “API-first” all-digital platform.

Clients should have the option to become ‘Bankable’ and build cards, payments, and credit solutions right on top of the Bankable virtual account core within a few minutes.

Via different investor partnerships, Bankable will aim to provide “unlimited” working capital matched up with an extensive portfolio of relevant clients.

As noted in the update from Bankable, early use-cases for the combined product offering are being introduced in the B2B wholesale travel industry for working capital support on supplier payments; supporting pan-European scale-up Fintech firms and neo-banks in building net new revenues from credit cards; and working with international consumer brands to develop a single payments solution customized to their requirements.

Eric Mouilleron, CEO, Bankable, stated:

“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.”

As reported last year, Kard, the innovative mobile bank for teenagers, chose Bankable as its Banking-as-a-Service (BaaS) partner.

Kard’s mission is “to offer a safe, intuitive banking experience to young people and foster financial education and empowerment.”

Launched in 2019 in France by an experienced entrepreneur and a former banker and with backing from leading investors, Kard offers “a mobile banking application that allows parents to send money to their child’s account and monitor their spend.”

Teenagers can then manage their funds, and spend them using Apple and Google-pay enabled cards, or save them in one of the “savings pots”.

Kard’s co-founders Scott Gordon and Amine Bounjou were “keen to get their product to market quickly.”

They decided “to build upon the existing BaaS infrastructure, recognising the extra time it would have taken them to build the requisite systems, processes and partnerships with payments services providers in-house.”

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