October buys rival lender Credit.fr

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October, the leading credit platform in continental Europe, acquires its competitor Credit.fr, the second credit platform for French SMEs and a wholly-owned subsidiary of Tikehau Capital since 2017.

Supporting the growth of SMEs with private and institutional lenders Credit.fr is the second largest lending platform for French SMEs in terms of volume processed (115 million euros). Since its launch in 2015, the company has completed more than 900 financings.

The new entity will thus represent more than 860 million euros lent to 3,100 European companies in France, Spain, Italy, the Netherlands and Germany.

Through this acquisition, October will be able to complete its know-how and enrich its processes to meet the financing needs of SMEs.

Through this operation, October is pursuing its growth strategy based on the development of its corporate credit activity and the sale of its technology, in SaaS mode, to financial institutions with October Connect.

Credit activity is driven by strong growth: +72% in 2021. This growth is financed by more than 40,000 active individuals and major European institutions (Allianz, Bpifrance, CDC, Cassa Depositi e Prestiti, Fonds Européen d’ Investment, Generali,
Groupama, ICO, Invest NL, Zencap…).

Launched 18 months ago, the October Connect activity already represents 15% of October’s turnover and has acquired its first major references such as Bpifrance.

October Connect SaaS technology helps banks such as Bpifrance and asset managers to enrich their risk analysis and detect fraud. It allows them to optimize their processes for better decision-making thanks to data.

“The October Connect business will be at the center of most of our investments over the next 24 months. We are strengthening our tech, data and product teams, while building a European sales force. said Olivier Goy, chairman of October’s supervisory board.

“Our objective is to offer the best financing solutions to SMEs to support their development. At the same time, we offer our investors, both institutional and private, the opportunity to support the growth of these companies. The expertise of the Credit.fr teams in this area is recognized; we have followed their work with great interest. We are therefore delighted to see our teams merging and strengthening each other. explains Patrick de Nonneville, CEO of October.

Maxime Gely, Chairman of Credit.fr and who becomes COO of October France, comments: “This new adventure is an opportunity for loyal Credit.fr lenders to have ever more varied investment opportunities. In recent years, the October teams have demonstrated their know-how: we are proud to be able to provide our historical users with the benefit of such operational excellence.

“In five years, Credit.fr has become the second largest lending platform for French SMEs. With a European dimension, October is today a leading platform in its market and a partner of choice for pursuing the development of Credit.fr. share the strategic vision of its management team and are happy to support the development of the new entity,” said Henri Marcoux, Deputy CEO of Tikehau Capital.

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