back Back

EIB invests €15 million in SME FinTech Izicap

By Gloria Methri

November 04, 2022

  • CRM
  • EIB
  • Europe
Share

European Investment Bank (EIB)The European Investment Bank (EIB) is investing €15 million into Izicap, enabling the SME FinTech to develop and market a loyalty software solution for small merchants, thereby boosting business growth in Europe.

The new EIB venture debt investment under the bank’s Innovation and Digitalisation Growth Finance programme will help Izicap to accelerate product innovation, recruit additional staff and expand its presence in European markets. This EIB support will also aid French FinTech in expanding its global and regional partnerships.

Speaking at an event at Web Summit in Lisbon, EIB Vice President, Ricardo Mourinho Félix said, “The EIB is committed to financing companies investing in innovation and digitalisation. The agreement officialised today at Web Summit will help this innovative start-up to provide a Customer Relationship Management and loyalty solution to small companies severely hit during the COVID-19 pandemic, to better serve their customers. Web Summit welcomes tech companies taking innovation steps to grow and Izicap’s has the right digital ambitions to become a future leading FinTech in Europe.”

Izicap is a CRM and loyalty platform linked to the credit card that transforms local merchants’ payment terminals into a marketing tool. Through its Smart Data platform, Izicap processes transaction data and provides local businesses with unique insights to expand their digital presence, build customer loyalty and drive sales. The company works closely with banks and acquirers across Europe to enable over 10,000 merchants.

Reda El Meijad, co-founder and CEO, Izicap said, “We are democratizing the use of data from payment terminals and giving small merchants the means to prosper. We are delighted to have obtained this financing from the EIB, which will enable us to strengthen our deployment strategy with international banks and acquirers.”

Previous Article

November 04, 2022

Binance partners with Scrive for expansion into Nordics and Benelux

Read More
Next Article

November 04, 2022

Octaura appoints Jason Cohen as Chief Operating Officer and Chief Financial Officer

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

CRM

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 23, 2024

Ebury and Nium team to offer cross-border payments in Brazil

Read More

February 23, 2024

FinTech Focus: Catch latest developments of the week

Read More

February 23, 2024

MultiPay teams up with Acquired.com to launch Pay By Bank

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023