Elaia, BPI France in €21m series-C for iBanFirst

iBanFirst was in the process of raising its funding round before the coronavirus pandemic, Techcrunch reported. The lead investor dropped the deal at the last minute. However, Elaia stepped in to replace the previous lead investor, according to the report.

The company has raised €46m to date.

The fresh capital will be used to expand the company's financial services platform.

Previous funding
iBanFirst raised $11m in its first early-stage round from Kima Ventures and Xavier Niel in October 2016.

In November 2018, Kima, Serena, Breega Capital and Xavier Niel invested €15m in a series-B funding round for the company.

Company
Headquartered in Brussels and founded in 2013, iBanFirst is a payments specialist, focusing on SMEs. The company developed a platform that allows SMEs to gain insight into their international payment traffic. The company has 180 employees. It has around $20m in annual revenues, according to Techcrunch.

People
Elaia – Xavier Lazarus (managing partner).

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• Topics
• Benelux
• Technology
• Expansion
• Belgium
• Venture
• BPI France