French paytech start-up Fintecture lands €26m Series A funding
Paris-based B2B payment platform Fintecture has raised €26 million in a Series A funding round.
Participating in the round were new investors Eurazeo, RTP Global, HEC Ventures and Allianz Trade, as well as existing investors Target Global, Samaipata and Societe Generale, with angel investors also taking part.
The new funding brings Fintecture’s total capital raised to date to €32 million, following a €6 million round raised in May 2021.
Launched in 2020, Fintecture says it helps merchants save time (people time and time to cash) and costs, as well increase sales via its payment platform.
Fintecture says it aims to tackle the problem of manual and paper-based transactions, by helping companies digitise their payments and synchronise their data with invoicing and accounting processes to improve business operational efficiencies.
The firm operates across more than 10 countries, enabling more than 7,000 businesses to collect payments. Fintecture says more than 250,000 buyers have made payments on its platform either in-store, online, via remote sales or via invoicing cycles.
With the new investment, the start-up plans on expanding its operations in the European B2B payments space, with operations in France, UK and soon in Spain. Fintecture also plans on increasing its headcount, currently at 80, by adding 40 new vacancies in coming months.