French Startup Pivot Secures €5 Million Funding

French fintech startup, Pivot, has secured a €5 million investment from several leading figures in the tech industry, including founders from Personio, Qonto, and Rocket Internet. This information was officially announced following initial reports by industry medium, Sifted.

A Closer Look at Pivot and Its Founders

Pivot is a platform designed to assist companies with their purchasing processes and expense monitoring. The founders of the firm, Marc-Antoine Lacroix and Romain Libeau, are no strangers to the fintech scene. Lacroix helped build banking startup Qonto, while Libeau was previously part of the management team at Swile, an app for employee benefits. Together with CTO Estelle Giuly, they are now developing Pivot.

Leading Tech Founders Invest in Pivot

Renowned investors have shown their support for the platform, collectively investing €5 million. Among them are Berlin-based venture capital firm Visionaries, as well as funds Emblem and Cocoa.

In addition to these entities, several well-known founders have also joined as business angels. These include Hanno Renner, founder of Personio, Steve Anavi, founder of Qonto, Loïc Soubeyrand, founder of Swile, and Oliver Samwer, CEO of Rocket Internet. It remains unclear which company Samwer used for his investment. It is noteworthy that Samwer has recently significantly scaled down his investments with the Global Founders Capital fund.

This significant backing from industry leaders suggests a promising future for Pivot as it continues to grow and develop its platform.