Singapore Fintech, iLex, Secures Seed Funding, Signs MoU with IHS Markit
19 June 2020
Singapore-based Institutional Lending Exchange (iLex), a Fintech firm focused on developing a multilateral digital or e-market platform that will support the deal flow and liquidity opportunities for loan market participants, has reportedly finalized its seed funding round. The amount raised has not been disclosed.
Investors based in France, Hong Kong, Singapore, and the US took part in iLex’s investment round, the company confirmed. iLex has also committed to a Memorandum of Understanding (MoU) with IHS Markit (a UK-based global information provider) to connect its platform with IHS’ suite of products and services.
Bertrand Billon, CEO and founder at iLex, stated: “Despite being the world’s second largest source of capital after equities, the corporate loan market remains primarily relationship-driven and relies on inefficient manual processes.”