ASTON ITRADE INVOICES FOR ITS CAPITAL INCREASE
ASTON iTF advised by Lamartine Conseil. The Nancy-based fintech specializing in customer invoice collection has chosen to bring in Seventure for €3 million. Investors, including business angels already shareholders, hold 40% of the capital.
Seventure has a nose for fintech. Within a few days of each other, the management company invested in the 2016 and 2015 winners of the “Fintech of the Year” prize awarded by the Finance Innovation competitiveness cluster. Following on from Yelloan, on December 20 it acquired a stake in Aston iTrade Finance, publisher of a solution for optimizing cash flow, particularly invoicing, for SMEs and key accounts. The investor, first institutional fund shareholder, contributes €3 million. An equivalent amount was raised in the form of medium-term bank debt and from Bpifrance. The company had not commissioned a surveyor, taking advantage of the visibility it had gained by winning various prizes. “We initially contacted five funds directly, then ten approached us, including Serena, Partech and Idinvest. In the end, we chose Seventure because, over and above the human relationship with its team, we were on the same wavelength, particularly with regard to the strategy of collaboration rather than competition with financial institutions,” confides Amaury de la Lance, founder of Aston iTF.