Demica raises £22.9m in Series C funding led by Simcah Management to expand platform features
Simcah Management led the Series C round to support product development and North American expansion.
Demica operates a software as a service platform designed to manage working capital for major corporate multinationals and financial institutions. The company provides receivables, inventory, and payables finance solutions to clients globally.
Working capital technology firm Demica has secured £22.9m in a Series C financing round. Simcah Management led the investment, which will support the addition of new products and expansion in North America.
The fresh capital will be directed towards enhancing the platform with invoice discounting and distribution finance capabilities, alongside improved risk syndication features. Demica also plans to grow its North American team to strengthen ties with banks and institutional credit investors.
Over the preceding five years, the business expanded funded programmes significantly and established a commercial footprint across Europe and North America. Regulatory approval from the Financial Conduct Authority remains required to complete the transaction.
From the founder
"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."
Matt Wreford
CEO at Demica
Investor perspective
"As an experienced investor in enterprise SaaS companies, I have been attracted for many years to the working capital finance market due to its substantial size and consistent growth rate. Demica is one of the very few credible platforms that has the potential to reach critical mass on a global scale."
David Cohen
managing member, Simcah Management
Use of funds
- 01Continue product development
- 02Expand into international markets