French Fintech Start-Up Raises Eur25 Million From Long Arc Capital

French Fintech Start-Up Raises Eur25 Million From Long Arc Capital

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  • November 2, 2022
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French tagpay 25m long arc has raised EUR25 million in its latest funding round from Long Arc Capital, an American private equity firm based in New York. With the investment, the company will gain additional human capital and strategic advice on a wide range of product development topics. The firm will also help the company develop a product roadmap for its Core Banking System platform. TagPay aims to offer financial institutions a scalable platform with low total cost of ownership.

Long Arc Capital Invests EUR25 Million In Tagpay

French fintech startup TagPay has received EUR25 million in funding from Long Arc Capital, a private equity firm based in New York. The new investment will enable TagPay to expand its customer base and strengthen its management team. With the new funding, the company aims to double its banking customer base and multiply its number of end-customers by five. The company will continue to be owned by Societe Generale, a long-time partner and minority shareholder.

Founded in 2005, TagPay has been serving over twenty financial institutions around the world and has over seven million accounts. The company focuses on supporting the financial sector’s digital transformation by offering its next-generation Core Banking System. Its SaaS platform enables financial institutions to focus on building offerings, while newcomers to the market can concentrate on selling their products. It has 35 employees and a headquarters in Boulogne-Billancourt.

The company’s technology allows it to deliver core banking services over the internet. The French startup has gained several clients, including Mauritanian Bank for International Trade, which implemented its cloud-based core banking system.

The company is also working with other clients, including Societe Generale, which was an early investor in the company.

Tagpay Is A Core Banking Platform

TagPay is a French core banking platform that provides innovative, configurable and secure technology to financial institutions. The company has recently raised EUR25 million in new funding, led by Long Arc Capital. The company’s technology allows financial institutions to create a more personalized customer experience and support new innovations.

TagPay’s core banking system (CBS) manages customer accounts, transactions, products, and other business processes. It also records all transactions that are linked to customer accounts. The solution also provides a downstream service for producing regulatory reports. This solution is cloud-based, enabling financial institutions to avoid the cost and complexity of building their own core banking system.

The company has secured EUR 25 million in fresh funding from Long Arc Capital, an American private equity firm. The funding will be used to strengthen TagPay’s team and expand its business. The company intends to double its customer base and five- fold the number of end customers by 2023.

It Helps Financial Institutions Digitise Their Services

TagPay is a provider of next generation core banking systems for financial institutions. The solution helps financial institutions digitise their services and improve the customer experience. It is based in Boulogne-Billancourt and employs 35 people. The French startup has raised EUR7 million in funding.

The company’s new funding will help it to expand its business. The funds will be used to build a strong sales and development team, and to expand its technology. The company is aiming to double its banking customer base and five-fold its end- customer service by 2023.

TagPay believes that the future of banking lies in digitisation. It has a range of open, scalable solutions to help financial institutions transform. Its arc@PEAS solution has been designed to enable financial institutions to transform legacy systems into modern, scalable platforms.

It Offers A Cost-Efficient Platform

French startup TagPay has secured a EUR25 million investment from Long Arc Capital. This investment will help strengthen the company’s management team and support future growth. The company plans to double its number of banking customers by 2023 and grow its end-customer base by five. Its founders, Yves Eonnet and Herve Manceron, will continue to lead the company. The company has been working with financial institutions to create a cost-efficient platform that will make their end-customers’ lives easier.

The company is headquartered in Boulogne-Billancourt, France, and has 35 employees. The company’s mission is to enable financial institutions to enhance customer experience and support innovations. The funding will help the company expand its customer base and hire more staff. It plans to double its workforce within the next 18 months.

The company has raised EUR7 million in previous funding rounds. Societe Generale remains a minority shareholder and partner.

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