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June 12, 2020

Payment solutions provider iBanFirst secures €21m in funding

iBanFirst, an international payment solutions provider, has raised €21m through Series C funding round.

Venture capital funds Elaia and Bpifrance joined the round as new investors. The company’s existing investors French funds Serena and Breega also participated in the fundraising.

With the latest funding, iBanFirst has now raised a total of €46m.

Founded in 2013, iBanFirst provides an online platform that enables businesses to pay and receive payments in multiple currencies.

The company is headquartered in Belgium, with operations in France, the Netherlands and Germany.

A member of the SWIFT network, iBanFirst counts more than 4,000 customers across Europe.

iBanFirst founder and CEO Pierre-Antoine Dusoulier said: “This is a decisive step towards achieving maturity as a company and pursuing our goal of becoming the leading platform for B2B multicurrency financial services.

“While continuing to deliver technological solutions that improve user experience, we will keep expanding our SME and mid-tier offering.

“To support companies in their international growth, we will strive to offer transactions that are increasingly straightforward, secure and transparent, within a network nurturing mutual trust.”

Elaia managing partner Xavier Lazarus said: “The fintech sector, and especially the international payments sector, is on course to becoming one of the clear winners of this crisis period.

“While the bulk of the market remains in the hands of offline historical players, their quality of service and transaction costs are increasingly challenged.

“This is why we are both proud and delighted to support iBanFirst in its international growth and in the development of a leading pan-European digital platform specialised in B2B payment services and currency exchange.”

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