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Fintech : every bank is looking for its start-up

The term “fintech” comes from the contraction of “finance” and ” technology “. It refers to the innovative start-ups that use new technologies to rethink the banking and financial services. Traditional banks are the envy of their vitality, their spirit of conquest, and to their sense of customer experience, when the fintech envy their financial means and their clients. Reconciliations between the two are accelerated from 2015, when the Crédit mutuel Arkéa has redeemed Leetchi (platform jackpots online). In the wake of this, BPCE acquired the Common Pot (same concept as Leetchi), then the mobile banking Fidor, the agricultural Credit is entered in the capital of Linxo (an application to manage its budget), the néobanque Morning has been redeemed by the bank Edel (subsidiary of E. Leclerc), etc., In 2017, the alliances of this type have exploded. Focus on five of them.

Pumpkin, which was acquired by Crédit mutuel Arkéa

“The reimbursement between friends free, instant, and secure,” it is the slogan of Pumpkin, a start-up lille in the hands of Crédit mutuel Arkéa. The bank intends to acquire 80 % of the capital of fintech. The three co-founders – Hugo Sallé de Chou, Constantine Wolfrom and Victor Lennel – will retain the remaining 20%. “If we stop growing, we die. With the Crédit mutuel, it just gives the means of our ambitions “, explains Hugo Sallé de Chou. Created in 2014, the Pumpkin has quickly established itself among its target audience : young people, attracted by this new kind of social network payment to the community features. One can, for example, directly to the accounts of an evening with friends on the app or leave a small word with a wire transfer. The start-up claimed 100,000 users by the end of 2016, and then 250 000 a few months later, in July. Over the same period, the monthly transactions have increased from 3 million to 5 million euros. To use the application, simply have the recipient’s phone number or be friends with him on Facebook.

The Account that Nickel, bought by BNP Paribas

The Account Nickel allows anyone to open an account with a retail outlet, with only a id and a phone number. The client receives a RIB and a MasterCard after the activation of his account 100 % connected (that is to say, which enables the sending of alerts by e-mail and SMS). It is the Financial electronic payments (FPE), founded by Ryad Boulanouar and Hugues Le Bret, who created this banking service of a new genre in 2014. In April, BNP Paribas has acquired 89.1% of the FPE. A majority holding, which will soon be increased to 95 %. The remaining 5% are held by the Confederation of tobacconists. The transaction is expected to amount to more than € 200 million for this start-up which already has some 650 000 customers and 2 700 tobacconists partners. “This alliance was a real choice. It had raised 40 million euros on 8 fundraising with 140 investors, but we needed a relay to continue to develop. And it is with the banks that we have the most synergies, ensures Hugues Le Bret. The transformation to digital of the banking sector, it, comes an awareness that, in the last 18 months, the hyper-urgency of the situation compared with the european regulation. “

KissKissBankBank & Co, which was acquired by la Banque postale

La Banque postale has offered KissKissBankBank & Co (the “& Co ” refers to Hellomerci and Lendopolis, two other services developed by the start-up), the platform of crowdfunding number 1 in France, on the 28th of June last. The service allows individuals to finance, with or without consideration, of the projects “creative and innovative” in areas as diverse as music, cinema, ecology, or education. Established in September 2009, the start-up fintech has therefore decided to join a major player in the ecosystem on a French bank. The goal, according to the founder and CEO Vincent Ricordeau, is that ” the alliance (the) leads to (their) project ultimate : to be the bank of tomorrow “. KissKissBankBank is already the leader in its sector with no less than 1.3 million members to 27 000 funded projects and 90 million euros raised. For Vincent Ricordeau, ” KKBB became a subsidiary of the Banque postale, it is an exchange of good processes. The strength of their network will allow us to more easily reach all of our targets (individuals, associations, companies, etc). In general, the fintech and banks get closer, because they now have the same constraints. With the postal Bank, we were already partners for the past six years, we can see it as a marriage after a long period of betrothal. “

Daleny, which was acquired by Natixis

Dalenys was acquired by Natixis (subsidiary of investment bank of the BPCE group) for € 160 million. In a first time, Natixis has acquired 50,04 % of the share capital with the founder, Jean-Baptiste Descroix-Vernier, and will shortly launch a TAKEOVER bid for the balance of the capital. The start-up created in 2002, is specialized in payment solutions for e-retailers, under the brand Be2bill. Strong growth, this business has generated a turnover of 5 million euros in the first quarter of 2017. The flow of payments collected via Be2bill is approaching the 3 billion euros per year. Natixis has acquired Dalenys with the ambition to become a european leader in payments. “We knew that we could not succeed to disrupter in the payments industry that by passing the marriage of developers, statisticians and bankers. Natixis is a natural partner and industry with which we have more than five years of common history and we share the ambition, ” explains its director-general Thibaut Faurès Fustel de Coulanges.

Credit.fr acquisition by Tikehau Capital

The next day the redemption of KissKissBankBank by the postal Bank, another platform for crowdfunding has also changed hands. It is Credit.fr specializing in the ” crowdlending “, lending to VSES–SMES, which was acquired for € 12 million by the asset management company and investment Tikehau Capital, which manages more than 10 billion euros of assets. Lenders can be individuals who want to diversify their portfolio, or companies that wish to invest their surplus cash. The loans are for an average duration of 47 months with an interest rate of 7.5 %. Since its launch in march 2015, the start-up has supported 230 projects with more than 13 000 lenders who have a total of around 14 million euros of funding. “With the support of Tikehau, one gains both credibility and power of the hit records that require major funding,” says Brice Vimont, head of the firm’s financing in Credit.fr

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