FinTech start-up iBanFirst raises €15m from VCs Serena Capital and Breega Capital alongside French billionaire and previous backers Xavier Niel.
The company previously received a €10m investment from Niel two years ago, when it used to operate under the FX4BIZ brand.
IBanFirst has planned to use the new funding for research and development as well as launching new services and expanding its global reach.
IbanFirst’s platform connects SMEs to a network of fintech startups with the aim of replacing the role of traditional banks.
iBanFirst provides access to credit, international payments and investment services. Since launching in 2013, the company has processed 100,000 transactions for 2,500 customers, representing just under €5m.
The company was founded by former head of Western Europe at Saxo Bank Pierre-Antoine Dusoulier and is regulated and licensed by the Belgium National Bank.
iBanFirst founder Pierre-Antoine Dusoulier said, “With these new funds raised, the favourable context under PSD2, current market depth and cumulative data from 2,000 clients and 20,000 suppliers worldwide, our potential for expansion is enormous.
“Our ambition is to constantly develop our platform with new services. We started in 2018 with our online hedging offer, guaranteeing a currency exchange rate, personalised IBANs, aggregation of external accounts, payment tracking with Swift GPI, etc.”
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