Financial services provider iBanFirst, which delivers solutions across banking borders, has announced the completion of a growth equity investment to fund product development, international expansion and M&A.
Global private equity firm Marlin will become the fintech’s largest shareholder, replacing existing business angels and some of the company’s early backers. iBanFirst CEO and Founder, Pierre-Antoine Dusoulier, will become the company’s second-largest shareholder as part of the new agreement.
The move marks a shift in iBanFirst’s funding strategy to date, having already raised €46 million over three successive VC rounds since 2016. Teaming up with a global investment firm with over $7.5 billion of capital commitments under management and an extensive track record in B2B software not only adds an international dimension to iBanFirst’s shareholder base, but also offers a long-term financing solution that „will enable the company to pursue its growth ambitions and establish itself as a global leader in B2B cross-border payments”.
iBanFirst will continue to focus on European expansion. Having recently extended its presence in Germany, the country will become an increasingly important market for iBanFirst.
With plans to expand into Central and Eastern Europe over the coming quarters, the Franco-Belgian fintech company seeks to leverage its best-in-class core banking infrastructure and robust go-to-market credentials to generate the majority of its revenue in foreign markets by 2025. The company is also actively pursuing strategic partnerships and M&A opportunities in the UK and elsewhere.
“The growth equity deal struck with Marlin is a truly exciting chapter in the story of iBanFirst, which will greatly accelerate our international development while facilitating sustained revenue growth,” said Pierre-Antoine Dusoulier, iBanFirst’s CEO and Founder. “Beyond introducing our offer to new markets, leveraging our proprietary core banking infrastructure remains a priority. As iBanFirst continues to champion transparency and capitalise on the UX opportunities of open banking, we are pursuing a multi-partner strategy to connect our clients with various banking partners through our platform. More than ever before, this will offer them the chance to tailor their payment journeys to their most pressing needs, whether these be speed, cost effectiveness or otherwise. „
The completion of the transaction is subject to applicable regulatory clearances and other customary closing conditions.
Founded in Paris in 2013 by former bank executives and entrepreneurs, iBanFirst is a French company headquartered in Belgium, with operations in France, Belgium, the Netherlands and Germany. It is regulated as a payment institution, passported throughout the European Union, and serves thousands of customers all over Europe.
Member of the SWIFT network and SEPA certified, iBanFirst holds AISP and PISP accreditations under PSD2.
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