A new round of financing for a French FinTech :
Aston iTrade Finance raises €6 million, including from Seventure Partners, to accelerate international expansion.
Paris, February 2, 2017 – Seventure Partners, a leading European player in innovation financing, announces a new investment in the strategic FinTech sector by participating in Aston iTrade Finance’s latest €6 million fundraising. This round of financing, carried out at the end of 2016, is made up of 3 million euros in equity, contributed in full by Seventure Partners, and quasi-equity and bank debt. These latest transactions bring the total funding raised by Aston AI since its creation in 2011 to €10 million.
Aston AI is the first B-to-B FinTech platform enabling companies to optimize their cash flow, in particular by adding value to their customer and supplier invoices. Its rapid growth stems from the fact that it provides companies with a comprehensive solution to a strategic need that has become crucial for them: increasing their cash and short-term financing. Aston AI is the perfect answer to these challenges:
– Global, it is aimed at all market players: companies, credit insurers and financiers (banks, funds and factors).
– For the first time, its open marketplace links all the players in this market.
– Modular, it optimizes the 3 sources of cash: reduced payment times,
covering the risk of non-payment and financing.
– Digital, it digitizes the customer and user experience from A to Z: “1st click I relaunch, 2nd click
j’assure, 3ème clic je finance”.
Founded in 2011, Aston AI was voted FinTech of the Year 2015 and is presenting the 2016 Fintech Award organized by Pôle Finance innovation on February 2, 2017. The company passed the 2 billion euro mark in invoices processed in 2016, and in 2016 joined the European top 100 of the Deloitte Technology Fast 500, with a 4-year sales growth of 978%. It already generates over 50% of its sales outside France.
Amaury de la Lance, Founder and CEO of Aston iTrade Finance, is delighted ” the acquisition of a stake in Seventure, a leading technology and digital financing fund. This confidence in our ability to rapidly create value proves the relevance of our offering and the robustness of our business model. These funds will enable us to step up our development
sales to our 3 customer segments (corporates, credit insurers and banks) both in France and abroad, as well as accelerating the technological progress of our algorithms, scoring and in particular BI (Business Intelligence).”
According to David Manjarrès, Director of Seventure Partners’ Digital Technologies division, ” Aston iTrade Finance is a promising French FinTech in one of the key sectors of short-term corporate financing. Its rapid growth demonstrates that it meets a proven and growing need. We’re very proud to be part of this innovative company’s adventure, helping it to accelerate its development in France and abroad. “