Credit risk management platform Tinubu Square has secured a €53m round of funding from Long Arc Capital and Bpifrance.
As part of the transaction, Long Arc Capital has acquired a majority stake in Tinubu.
Founded in 2000, Tinubu is a software vendor for trade credit risk, offering its SaaS solution to trade credit insurers, receivable financing organisations and corporates. The platform helps to reduce risk and financial, operational and technical costs.
The capital in the latest round of funding will be used to increase technology development for its credit and surety insurers, trade finance banks and export credit agencies. This new equity line will also help the company to grow within its existing locations of Europe, North America and Asia-Pacific, as well as evolve its offerings and open into new market sectors.
Bpifrance investment director Nicolas Herschtel said, “Tinubu Square has undergone a profound transformation since we became an investor in 2011. In addition to its strong growth, its software has established itself as the benchmark in the credit insurance sector. The company is now in a key phase of its development with numerous market opportunities.”
Following the latest injection of capital, Tinubu has raised a total of around $54.1m in funding, with it previously raising capital in 2011.
Last month Bpifrance took part in the €40m capital injection of lending platform YOUNITED CREDIT and the $45m equity round of treasury management platform Kyriba.
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