Credit risk start-up Tinubu Square raises EUR4.5 million

Credit risk start-up Tinubu Square raises EUR4.5 million

Tinubu Square, the Paris-based B2B credit risk management outfit, has raised EUR4.5 million in additional funding from Belgian venture capitalist GIMV and previous investors.

Jérôme Pezé, president of Tinubu Square, says the new funding will be used to extend the company's pan-European presence and strengthen its technology.

This latest investment follows on from a previous EUR4.3 million fund raising effort in March last year.

Explaining the investment, Steven Coppens, investment manager at GIMV says: "The company has succeeded in creating a state-of-the-art solution to manage extremely complex processes, in developing a base of large-account prospects, and in forging partnerships with top-level credit insurers. This will enable Tinubu Square to establish itself as the number-one automation solution for credit-risk management."

Michel Akkermans, a founder of Internet banking outfit Fics and chairman of S1 Group, has also taken a minority holding in the company alongside GIMV.

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