Banking Economy Fintech InsurTech Investment Services News Risk Management

Truffle Capital And Sopra Steria Invest €2 Million In Particeep

Truffle Capital And Sopra Steria Invest €2 Million In Particeep

The fintech Particeep, a leader SaaS distribution solution for financial products and services, announces the arrival of the European fund specialized in fintechs Truffle Capital, and Sopra Steria a European leader in consulting, digital services and software development as minority shareholders.

The fintech Particeep digitalizes and simplifies the distribution of banking, insurance and savings products. Thanks to Particeep, banks and insurance companies can not only offer their end customers online subscriptions, but also offer distributors and partners controlled and secure access to their offers and associated subscription journeys. Particeep also offers a white-label distribution platform for online distribution of savings and investments, directly and via wealth advisors. Present in four countries (France, USA, Portugal and Luxembourg), the company now serves around 100 customers, such as Crédit Agricole, Groupama or Nexity. Particeep has around thirty employees and recorded in 2020 a volume of subscriptions of more than €500 million, up 70% compared to 2019.

Read More: SIA Defies Covid Tribulations With Low-Margin Growth In Revenues And Profits

In order to continue its growth, Particeep announces the arrival of Truffle Capital and Sopra Steria as minority shareholders. This investment of nearly €2 million, which is part of an important strategic plan, will enable Particeep to finance its growth, its development and technological innovations over the coming years with Truffle Capital and Sopra Steria. In addition, the participation of Sopra Steria, present with its banking software Sopra Banking Software in more than 25 countries, will accelerate the commercial conquest of the European, American, African and Asian markets. By integrating Particeep into its offer available for 1,500 financial institutions, Sopra Banking Software will provide a native and turnkey solution to facilitate the online distribution of financial products.

Read More: Kasasa To Embed Bitcoin Tech From Nydig in Banking Package

Steve Fogue, President and co-founder of Particeep, said: “The democratization of the distribution of financial services on platforms is underway. Particeep will be able to position itself as a key player in this digital transition with the support of new shareholders. We are delighted to benefit from the financial support and expertise of the Truffle Capital teams; and we look forward to this strategic alliance with Sopra Steria and Sopra Banking Software that will enable us to accelerate the international deployment of our solutions to financial institutions.”

Bernard-Louis Roques, CEO and co-founder of Truffle Capital, adds: “We have been following Particeep for several years and have been impressed by its ability to develop a “plug & play” solution to digitize the subscription and distribution of financial products, thus allowing banks, insurance companies and mutuals to launch new offers through a simple “copy and paste” of a line of code. Their technology, validated by Sopra Steria, a leading player in the sector, fits perfectly into our portfolio of innovative Insurtechs and Fintechs at the heart of the Truffle ecosystem.”

Guillaume Blot, Chief Digital & Innovation Officer – Senior Vice-President of Sopra Banking Software, concludes: “We are proud to support Particeep and to allow them to benefit from our strong presence in the European, American, African and Asian markets. Our Group’s commitment alongside Particeep is part of our desire to contribute alongside FinTechs to shaping the finance of tomorrow.”

Related posts

5 B2B Finance Trends to Watch in 2021

Fintech News Desk

International Chamber of Commerce and Finastra Bring Trade Funding Marketplace Pilot to Ecuador

Fintech News Desk

ETFLogic Expands the LOGICLY Platform with Deeper Portfolio Integrations and Workflows for Financial Advisors

Fintech News Desk