B2B payment is getting old, but this startup is modernizing it

Spread the love

The French startup Fintecture has just raised 26 million euros.

B2B payment is getting old, but this startup is modernizing it

It's a real paradox. While B2B payments generate greater amounts than transactions between merchants and their customers, the latter still use fairly rudimentary technologies, and sometimes no technology at all.

Fintecture recruits, its rivals lay off

Thus, some companies still use their checkbook, while others opt for the traditional bank transfer. This is precisely what the French startup Fintecture, which currently has 80 employees, intends to change, and which proposes to modernize payments between companies.

The tricolor nugget, launched in 2020, has just raised funds of 26 million euros from investors such as Société Générale, HEC Ventures, Allianz Trade, or Eurazeo, RTP Global, and business angels. This sum will be far from superfluous in a period of economic uncertainty. As reported by l’Usine Digitale, this will provide him with four years of additional cash, enough to withstand the shock of the looming economic crisis. Fintecture also intends to soon create 40 new positions in France and the United Kingdom.

Other fintech companies are currently feeling the impact of the slowdown. This is the case of Stripe, one of the heavyweights of the payment sector, which will lay off 14 % of its workforce, or around 1,000 people. This is also the case for the American company Chime, which is going to lay off 12% of its payroll.

Fintecture has serious assets to promote to its customers

For his part, Fintecture clearly has no intention of letting himself down. It indeed has serious assets to promote to its customers, including some big names such as Bricoman, or Auchan Retail.

Thus, the startup offers three payment methods that greatly modernize practices. The first is based on open banking. By clicking on a link provided by the company, companies connect to their bank account and confirm the transaction directly.

Similarly, their customers can pay them directly through their banking interface using virtual IBANs . Fintecture also allows its users to charge their clients in installments. Finally, the startup also manages reimbursements via a feature that automates them, or even an instant payment option.

With these various assets, the startup hopes to shake up a market that tended to purr since many years. Their vision tends to appeal to investors, and this latest fundraising is clearly there to attest.

Previous Article
Next Article