Kereis today announces that it is taking a majority stake in Particeep, a French fintech and Insurtech founded in 2013 that gives banks, insurers and brokers white label turnkey solutions that enable the digital distribution of financial, insurance and savings products.
Led by CEO and founder Steve Fogue, Particeep offers white-label technological solutions enabling the rapid deployment of subscription paths for numerous product families (preventive healthcare, credit insurance, health insurance, savings, or pensions) on any customer interface.
Particeep enriches multi-product online subscription processes with a suite of ready-to-use third-party services, including digital signatures, digital payments, and online document authentication.
Particeep is growing rapidly. Its revenues grew 80% in 2022, and it now has a team of 40 specialists serving clients in insurance, banking and brokerage.
Truffle Capital, which took part in the previous financing round with Sopra Steria and made a significant contribution to Particeep's commercial and strategic development, is selling its stake.
Sopra Steria, which has been Particeep's reference shareholder since 2020, will continue to support Particeep’s management and will retain a minority shareholding.
Particeep CEO Steve Fogue said: "Particeep, Sopra Steria and Kereis share a common vision of the future of deployment of financial products: to give financial institutions, distributors and marketplaces fully customisable solutions that can be integrated into any sales channel and deployed on any system without the need for IT development. Our partnership with Kereis and Sopra Steria will enable us to strengthen our position in key markets, reinforce our innovation capabilities, and give customers even more value.”
Kereis Group President Philippe Gravier commented: "After the acquisitions of Minalea in 2021 and Prokonzept in Germany in 2022 and following the successful launch of Kereis Technologies two years ago, the addition of Particeep will further strengthen our range of SaaS solutions. Particeep's teams bring agility and expertise in the field of front-end sales, which will be key to our growth in the coming years. Kereis will fully support Steve Fogue and his teams in this new chapter in Particeep's development.”
Sopra Steria Chief Digital & Innovation Officer Guillaume Blot added: "The strategic partnership between Sopra Steria and Particeep contributes to the ongoing digitisation of the distribution of financial products. This partnership directly benefits customers in our three business lines (Consulting, Digital Services, and Software).”
Truffle Capital co-founder and Managing Director Bernard-Louis Roques added: "Truffle Capital has played a key role in anchoring Particeep in a solid industrial strategy, not only with Sopra Steria, which is one of our long-standing partners, but also with Kereis, which will provide a fresh financial and human impetus. We are very pleased to have contributed to this success.”