Brussels primarily based Fintech iBanFirst Secures €21 Million in Capital by way of Sequence C led by Elaia, Bpifrance Giant Enterprise

Brussels-based Fintech agency iBanFirst has secured €21 million in capital by means of a Sequence C spherical, which was led by Elaia and Bpifrance Giant Enterprise.

The funds raised will probably be used to increase iBanFirst’s monetary companies platform for SMEs. The corporate primarily focuses on supporting B2B funds in a number of main currencies.

Xavier Lazarus, managing companion at Elaia, said:

“The Fintech sector, and particularly the worldwide funds sector, is on track to turning into one of many clear winners of this disaster interval. Whereas the majority of the market stays within the palms of offline [traditional] gamers, their high quality of service and transaction prices are more and more challenged,”

Lazarus added:

“That is why we … assist iBanFirst in its worldwide progress and within the growth of a number one pan- European digital platform.”

Established in Paris in 2013, the Fintech agency maintains head workplaces in Belgium and enterprise operations in France, Germany, and the Netherlands.

iBanFirst had acquired €17 million capital almost two years again, and has expanded its enterprise by making two key acquisitions towards the tip of final yr.

iBanFirst acquired Dutch agency Nederlandsche Betaal & Wisselmaatschappij and Berlin’s Forexfix.

The corporate claims that its whole quantity of cost transactions has grown by almost 3x, with a year-on-year improve of about 180% this previous March 2020.

The Fintech agency confirmed that the capital raised could be used for its worldwide growth, and to develop numerous merchandise similar to a safe cost tracker, and new open banking (AISP) and import lending companies.

French Fintech companies secured $700 million in capital in 2019, in accordance with a examine by “Observatoire de la Fintech.”

Mikaël Ptachek, head of finance at Bizao, a Fintech platform serving to the worldwide on-line ecosystem use cell operators cost companies, mentioned final yr that these offers materialized “largely as a consequence of worldwide traders who’re concerned in financing probably the most developed or internationalized tasks.”