Expanding their international presence, Singapore-based ApexPeak has acquired Dutch financial supply chain firm, ASYX.
Within the alternative finance and marketplace lending Fintech sector we’ve seen plenty of deals. They include closing of investment rounds, IPOs and partnerships. What has been missing though has been mergers and acquisitions (M&A). However, that may change as the industry is growing rapidly, and more information about customer interests and how marketplace works best are emerging. As such, we may soon see an increase of deals by alternative finance providers who are able to Leverage their strengths by merging.
Fitting this potential trend is an announcement that Singapore-based ApexPeak is acquiring ASYX of Netherlands for an undisclosed amount. Between the two firms, they are carving out a niche of supplying capital to small and medium size businesses (SME) in emerging markets. Servicing customers in twelve countries, ASYX has offices in both the Netherlands and Indonesia. For its part, ApexPeak has been servicing the Asian and African markets from offices in Singapore and South Africa.
Like many other marketplace lenders who focus on a specific niche, ApexPeak specializes in working capital loans, where they provide short-term financing to SMEs for such items as inventory purchases. Focusing on SMEs, ApexPeak targets customers who have immediate needs for funding, but either are rejected by banks, or face higher costs when borrowing from them.
We see more M&A activity in the e-procurement space, as well as in marketplace lending - Gakim Solomons
Connecting with Gakim Solomons, President and CEO of ApexPeak, stated to Finance Magnates, “Our typical customer for receivables financing are generally mid-market, high growth SMEs who are unbanked, meaning they are unable to get access to traditional bank funding as they do not meet certain criteria”. However, Solomons explained that despite being rejected by banks, ApexPeak’s typical SME customers are established entities.
In regards to why ApexPeak has decided to grow through acquisition versus organic expansion, since they are already doing business in multiple countries, Solomons answered, “The acquisition of ASXY is a technology play that will substantially bolster our tech capabilities — and it’s sometimes faster to acquire than to build. The timing, price, team, and vision were the right fit, and so we took advantage of this opportunity.”
Overall, when asked whether he foresees more consolidation in the alternative finance industry taking place, Solomons answered “Yes”, adding, “We see more M&A activity in the e-procurement space, as well as in marketplace lending – which should see more consolidation due to the emergence of more verticals. Moreover, banks might be more open to strategically partnering with FinTech companies as a defensive move, in turn driving the number of M&As.”
In relation to banks, they have shown to be frenemies with marketplace lending. On one hand, they are at risk of being disrupted by alternative finance operators. But, on the other hand, banks have also formed partnerships with marketplace lenders to refer customers, as well as supplying capital on P2P lending platforms. On this dual aspect, Solomons explained, “Banks can and do lend directly to SME borrowers. However, a) not all borrowers want to do business with banks, and b) they might not be able to qualify for a traditional business loan with a bank. FinTech companies like ApexPeak allow banks to test news ways of doing things; to run proof of concept pilots were they can innovate and learn what works and what doesn’t.”
Within the alternative finance and marketplace lending Fintech sector we’ve seen plenty of deals. They include closing of investment rounds, IPOs and partnerships. What has been missing though has been mergers and acquisitions (M&A). However, that may change as the industry is growing rapidly, and more information about customer interests and how marketplace works best are emerging. As such, we may soon see an increase of deals by alternative finance providers who are able to Leverage their strengths by merging.
Fitting this potential trend is an announcement that Singapore-based ApexPeak is acquiring ASYX of Netherlands for an undisclosed amount. Between the two firms, they are carving out a niche of supplying capital to small and medium size businesses (SME) in emerging markets. Servicing customers in twelve countries, ASYX has offices in both the Netherlands and Indonesia. For its part, ApexPeak has been servicing the Asian and African markets from offices in Singapore and South Africa.
Like many other marketplace lenders who focus on a specific niche, ApexPeak specializes in working capital loans, where they provide short-term financing to SMEs for such items as inventory purchases. Focusing on SMEs, ApexPeak targets customers who have immediate needs for funding, but either are rejected by banks, or face higher costs when borrowing from them.
We see more M&A activity in the e-procurement space, as well as in marketplace lending - Gakim Solomons
Connecting with Gakim Solomons, President and CEO of ApexPeak, stated to Finance Magnates, “Our typical customer for receivables financing are generally mid-market, high growth SMEs who are unbanked, meaning they are unable to get access to traditional bank funding as they do not meet certain criteria”. However, Solomons explained that despite being rejected by banks, ApexPeak’s typical SME customers are established entities.
In regards to why ApexPeak has decided to grow through acquisition versus organic expansion, since they are already doing business in multiple countries, Solomons answered, “The acquisition of ASXY is a technology play that will substantially bolster our tech capabilities — and it’s sometimes faster to acquire than to build. The timing, price, team, and vision were the right fit, and so we took advantage of this opportunity.”
Overall, when asked whether he foresees more consolidation in the alternative finance industry taking place, Solomons answered “Yes”, adding, “We see more M&A activity in the e-procurement space, as well as in marketplace lending – which should see more consolidation due to the emergence of more verticals. Moreover, banks might be more open to strategically partnering with FinTech companies as a defensive move, in turn driving the number of M&As.”
In relation to banks, they have shown to be frenemies with marketplace lending. On one hand, they are at risk of being disrupted by alternative finance operators. But, on the other hand, banks have also formed partnerships with marketplace lenders to refer customers, as well as supplying capital on P2P lending platforms. On this dual aspect, Solomons explained, “Banks can and do lend directly to SME borrowers. However, a) not all borrowers want to do business with banks, and b) they might not be able to qualify for a traditional business loan with a bank. FinTech companies like ApexPeak allow banks to test news ways of doing things; to run proof of concept pilots were they can innovate and learn what works and what doesn’t.”
Tide Rides Adyen's Banking Wave into Germany's SME Market
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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