New York-based Long Arc Capital and the French investment bank Bpifrance have invested additional €15 million in Tinubu Square, the market leader for enterprise software solutions to Credit and Surety Insurers.
Recall that in 2018, Tinubu Square launched a 5-year strategic plan to expand its global footprint and propel innovation.
“The early results of our 5-year plan have already been extremely successful,” said Jérôme Pezé, CEO. “In just two years, we have more than doubled our annual recurring software revenue.”
“We have a clear vision of what we need to do to achieve our goals over the next three years,” added Olivier Placca, Deputy CEO. “Our teams, our shareholders and our partners are all aligned and committed to our mission.”
In a statement, Tinubu Square said it intends to use the additional €15 million of capital to target high growth international markets for Credit Insurance and Surety software; an ambition supported by Long Arc Capital and Bpifrance
At the end of 2017, Long Arc Capital and Bpifrance invested €53 million in Tinubu Square. The firm has significant experience in partnering with entrepreneurs to build category-leading businesses.
“The Tinubu team has performed incredibly well over the last few years,” said Vincent Fleury, Tinubu Board Member and a Partner of Long Arc Capital. “The business is now poised to become the market-leading enabler of digital transformations for the Credit and Surety Insurance industries. With this additional capital, we expect Tinubu will achieve new levels of success in the U.S. as well as in the rest of the world.”
Bpifrance, invested in Tinubu Square since 2011, continues to demonstrate its mission as a long-term stakeholder enabling entrepreneurial projects to deliver their full potential. Nicolas Herschtel, Deputy Managing Director of Large Venture, the Growth fund of Bpifrance, applauded Tinubu Square’s international development which, according to him, is a wonderful example of world-leading technology originating from France.
more recommended stories
FG Inaugurates Five-Year Broadband Plan Implementation Panel
By Adedapo Adesanya The federal government,.
Telcos Get Additional 2.4m Internet Users in May
By Adedapo Adesanya The number of.
Konnect Connects Sokoto Isolation Centres to Internet
By Modupe Gbadeyanka As part of.
Comviva Introduces Mobile Recharge App for Telcos
An innovative mobile recharge app to.
India Bans TikTok, 58 Other Chinese Apps
By Adedapo Adesanya The Indian government.
Smartphone Importation Drops 13.6% in Q1 2020
By Adedapo Adesanya The importation of.
Inclusive Fintech 50 to Pick Two Start-ups for $50k Cash
By Adedapo Adesanya Inclusive Fintech 50.
Egypt’s MoneyFellows Secures $4m to Expand Across Africa
By Adedapo Adesanya Egyptian fintech platform,.