Early payments finance technology business Obillex has secured £3m in a funding round led by Dawn Capital and supported by MMC Ventures.
Obillex provides an invoice financing solution for banks and private investors to support small and medium businesses that are struggling to get paid on time.
By filling in the funding gap, the FinTech company links investors to supply chain finance transactions “at a low cost” and is said to be suitable for businesses across the public and private sector.
The patented solution also provides significant benefits to business stakeholders such as capital market investors and e-invoicing providers.
Dawn Capital, supported in the round by MMC Ventures, is investing £3M to support Obillex’s further product development and rollout in the UK. Josh Bell, Partner at Dawn Capital will join the board of directors.
“Dawn Capital is always looking for novel and cutting edge new FinTech solutions,” Bell said. “Supply Chain Finance is a sector ripe for innovation and we believe Obillex’s proprietary product and strong team are well-placed to win in this market.”