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Fintech Particeep closed a €1.2 million Venture Loan funding with La Banque Wormser Frères
Fintech Particeep closed a €1.2 million Venture Loan funding with La Banque Wormser Frères.
Leading editor of whitelabel online distribution solutions editor for financial products and services, the French Fintech Particeep has closed a Venture Loan funding agreement with La Banque Wormser Frères. This innovative funding brings the amount raised by the FinTech since its inception to 2.5 million euros and will enable it to strengthen its business development in France and abroad as well as its efforts in research and development.
The Venture Loan is an innovative funding solution, suitable for high-growth start-up that have just reached profitability. This is the case of Particeep, which achieved a growth of more than 200% of its operating income in 2018.
Based in the heart of Paris, Particeep offers off-the-shelf solutions to banks, insurers, asset managers and their sales force to expose their products and enable their end customers to subscribe on any distribution channel to banking products and services.
Annually, the company registered through its clients platforms more than €200M in subscriptions to banking, insurances and investments products and has already attracted many big players such as Crédit du Nord ( Société Generale Group), Crédit Mutuel Arkéa, Credit Agricole as well as asset managers such as Novaxia Investment, Seventure Partners a subsidiary of Groupe BPCE and Paref Gestion.
” We have chosen this funding model for many reasons. First, it has the advantage of being little dilutive for the founders who want to keep at least 70% of the company capital in anticipation of a significant new fundraise round. 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 ambition. 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 funding model, therefore seemed particularly suitable for this fintech with great potential. ” Julien Wormser, Chief Operating Officer, La Banque Wormser Frères.
Testimony of Steve Fogue, CEO of Particeep, on video (with English subtitles):
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