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Lerex Technology closes £1.5M Growth Round for product and operational expansion

Updated: May 16, 2023

Lerex Technology, a payment solutions provider based in the UK, has secured a £1.5 million growth round from Angel investors.

Originally established in 2017, Lerex pivoted and re-launched in 2020 as a B2B payment solutions provider. Since then the company has seen accelerated growth and high demand for its offering from, both, small businesses and larger organisations.

Richard Ney, CEO of Lerex Technology, said: “It’s great to have investors recognise our achievements so far and back our plans and strategy. This investment will allow us to bring more features to our customers and create an even broader offering. Lerex’s purpose is to help our customers realise their objectives and take their initiatives from inception to full-scale payment programmes”.

Lerex focuses on helping new entrants to the payment space and specialises in supporting customers through their launch and scaling phases. The company offers all the technology and operational support required.

Representing the Angel investor group, Alan Whiteley said: “In the past 18 months, Lerex has demonstrated its ability to deliver and grow under difficult circumstances. Their product is second to none and their growth demonstrates the value they deliver to their customers. We are delighted to be supporting their expansion.”

About Lerex Technology

Lerex Technology was founded in 2017 as a FX travel card provider. The company pivoted and re-launched in early 2020 as a B2B payment solutions provider. Lerex supplies full end to end support for corporate clients wishing to go to market with prepaid payment solutions and digital accounts.

Based in the UK, Lerex Technology leverages its infrastructure and experience to provide a complete service to its clients.

Lerex is a prime example of a UK fintech leading the way in improving the efficiency of the payments market.

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