IBanFirst has completed a growth equity investment that sees PE giant Marlin Equity Partners become the B2B multi-currency payments platform's largest shareholder.
Marlin will become iBanFirst's largest shareholder, replacing existing business angels and some of the company’s early backers. The startup's founder and CEO Pierre-Antoine Dusoulier becomes the second-largest shareholder, while existing investors Elaia, Bpifrance Large Venture and Xavier Niel remain committed.
IBanFirst says the move marks a shift in its funding strategy following three VC rounds that have raised €46 million. Teaming up with a global investment firm with an extensive track record in B2B software "offers a long-term financing solution that will enable the company to pursue its growth ambitions," says a statement.
The new money will be used for technological development, M&A initiatives and international expansion. Having recently extended its presence in Germany, the firm has its eyes on Central and Eastern Europe.
“The growth equity deal struck with Marlin is a truly exciting chapter in the story of iBanFirst, which will greatly accelerate our international development while facilitating sustained revenue growth,” says Dusoulier.