Oarex Capital Markets, Inc., a Cleveland, OH-based non-bank financing institution providing financing to digital media companies, closed on a $10m line of credit from a group of lenders.
The group was led by Arena Investors, LP, a New York-based global investment firm.
Led by Hanna Kassis, founder & CEO, Oarex provides financing to accelerate programmatic advertising revenue for digital publishers such as websites, app developers, ad networks and supply-side platforms.
Accelerated cash flow allows media companies to scale their content promotion and user acquisition campaigns, and pay supply side partners and vendors sooner.
Oarex offers a non-loan product, attracting companies that are not interested in assuming debt and providing personal guarantees. Clients can sign up for one-time funding, or a monthly facility between 6 and 12 months. Oarex funds clients on a weekly or monthly basis, depending on their needs and cash flow.