Particeep welcomes Truffle Capital and Sopra Steria as minority shareholders
By Megha Bhattacharya
Paris-based FinTech Particeep announced that Truffle Capital and Sopra Steria have invested €2 million as minority shareholders in the company. The investment is expected to enable Particeep to finance its growth, its development and technological innovations. The addition of Sopra Steria along with Sopra Banking Software will enable the FinTech to offer a solution to facilitate the online distribution of financial products.
Steve Fogue, President and co-founder of Particeep, said, “The democratization of the distribution of financial services on platforms is underway. Particeep will be able to position itself as a key player in this digital transition with the support of new shareholders. We are delighted to benefit from the financial support and expertise of the Truffle Capital teams, and we look forward to this strategic alliance with Sopra Steria and Sopra Banking Software that will enable us to accelerate the international deployment of our solutions to financial institutions.”
FinTech Particeep aims to digitalise and simplify the underwriting of banking, insurance and savings products. It also offers a white-label distribution platform for online distribution of savings and investments, directly and via wealth advisors. The company operates in France, USA, Portugal and Luxembourg serves around 100 customers, such as Crédit Agricole, Groupama or Nexity.
Bernard-Louis Roques, CEO and co-founder of Truffle Capital, added, “We have been following Particeep for several years and have been impressed by its ability to develop a “plug & play” solution to digitize the subscription and distribution of financial products, thus allowing banks, insurance companies and mutuals to launch new offers through a simple «copy and paste” of a line of code. Their technology, validated by Sopra Steria, a leading player in the sector, fits perfectly into our portfolio of innovative Insurtechs and FinTechs at the heart of the Truffle ecosystem.”
Guillaume Blot, Chief Digital & Innovation Officer – Senior Vice-President of Sopra Banking Software, concluded,“We are proud to support Particeep and to allow them to benefit from our strong presence in the European, American, African and Asian markets. Our Group’s commitment alongside Particeep is part of our desire to contribute alongside FinTechs to shaping the finance of tomorrow.”
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