fintech Particeep finalizes a financing transaction, the leading provider of online distribution solutions for financial products and services, by signing a loan agreement in Venture Loan with Banque Wormser Frères. This innovative financing brings the amount raised by fintech since its creation to 2.5 million euros and will allow it to strengthen its market power in France and abroad as well as its research and development efforts.
The Venture Loan is an innovative loan model, almost unique in France and suitable for high-growth companies that have just achieved profitability. This is the case of Particeep, which tripled its operating income in 2018.
Based in the heart of Paris, fintech Particeep offers off-the-shelf solutions to banks, insurers, asset management companies and their distributors to expose their product benchmarks and enable their end customers to subscribe online to banking products and services. insurance.
The company saves more than € 200 million in subscriptions to banking, insurance and investment products every year and has already attracted a large number of references such as Crédit du Nord, Crédit Mutuel Arkéa, Crédit Agricole and other companies. management like Novaxia Investissement, Seventure Partners, a subsidiary of Groupe BPCE and Paref Gestion.
“We chose this method of financing for many reasons. First, it has the advantage of being little dilutive for founders who want to keep at least 70% of the capital of the company in anticipation of a tour de table of a significant amount. In addition, it expands our production and investment capacity in our Particeep Plug and Particeep Finstore products in order to respond immediately to growing demand in France and abroad. Steve Fogue, President and co-founder of Particeep.
“We were impressed by the professionalism of the management team and its requirement. As a bank, we have also been able to appreciate the quality and robustness of Particeep’s solutions, confirmed by renowned clients. The Venture Loan, an innovative financing method, therefore seemed particularly suitable for this project with great potential. Julien Wormser, Deputy Chief Executive Officer, Banque Wormser Frères. About Particeep
Particeep is a fintech that provides banks, insurers, asset management companies and their distributors with online marketing solutions for their financial products and services.
It offers an API made up of micro-banking services and out-of-the-box insurance and white label platforms for online distribution of banking, insurance and investment products.
About Wormser Brothers Bank
Founded in 1936, Banque Wormser Frères is today one of the few banks in France on a human scale still to be totally private. Owned and managed by the family that founded it, this familial character allows it to control its strategy and to be, by its flexibility and its organization, always among the first financial institutions to adapt and to precede the numerous evolutions of banking professions.
Other article: https://www.afrikatech.com/en/divers/startupper-of-lanned-by-total-start-in-final-your-startup/
Read also: https://www.particeep.com/en/company/presse