Pivot scales procurement prowess with €5m injection

Pivot scales procurement prowess with €5m injection

In an exciting step towards reshaping the realm of business-to-business (B2B) procurement, ex-leaders of Qonto and Swile, Marc-Antoine Lacroix and Romain Libeau respectively, have launched a promising FinTech enterprise, Pivot, according to a report from Sifted.

Founded on the robust expertise of its creators, Pivot arises from the prolific backgrounds of its founders in developing potent financial solutions, fortifying its stance as a new contender in the financial technology arena.

A substantial €5m funding has been pooled for Pivot, spearheaded by the Berlin-based venture capital firm Visionaries Club. Further amplifying the initial round, London’s micro fund, Cocoa VC, and several notable French business angels have also entered the fray, offering their financial backing and confidence in the nascent FinTech initiative. With this solid financial foundation, Pivot embarks on its journey with a pre-money valuation soaring to €20m.

Diligently designed by Lacroix and Libeau, Pivot focuses its innovative pursuits on B2B FinTech, notably in the sector of procurement, essentially targeting business expenditure on goods and services.

As it ventures into the financial domain, it nestles itself amidst existing startups such as the US-based Zip and UK’s Omnea, both notably engaging in the similar sector yet with varied business models and funding paths.

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