Fintech: La Banque Postale launches venture fund

Fintech and insurtech, the most profitable segment in terms of fundraising for French Tech last year, will be able to benefit from new support at an early stage with the launch of the La Banque Postale venture capital fund, which was announced on June 16. This fund, called 115K, intends to eventually invest 150 million euros in the seed program and series A, and will also cover the cybersecurity sector. RegTech, data, AI, blockchain and Web3 in France and Europe.

bottom”will invest as a minority shareholder, as well as a co-leader or follower, with entry fees ranging from €250,000 to €5 million, with the option to reinvest in subsequent rounds if necessary.”specified in the press release of La Banque Postale.

already four equity investments

“The investment of 115,000 has the dual purpose of profitability and accelerating development in line with La Banque Postale’s strategic plan: as such, it will facilitate technical and/or commercial collaboration with business lines, subsidiaries or divisions of the group.”— explained in the bank.

115K is already operating and has invested in four startups: Carbo (carbon footprint measurement), Joe (BNPL to BtoC), Cashbee (savings solutions) and Cosmian (deep cyber security). Carbo is already working with La Banque Postale to measure the carbon footprint of its professional clients.

synergy with the platform58

Since 2018, La Banque Postale also has an incubator operating in the same areas as 115K, Platform 58 (which has backed 41 startups including Leocare, YesWeHack, Seyna, ankle as well as Pickspey). Platform58 has been especially instrumental in the development of Carbo, Joe and Cashbee.

The La Poste group also has two corporate venture funds (La Poste Ventures and Open CNP).as well as an efficient digital service accelerator (Impact of the French Internet of Things x Technology) was established in 2015. 30% of “accelerated” startups cooperate with the group.

mail takes care of its ecosystem

The group’s partnerships with technology companies are exemplified in particular by its partnership with Shift Technology for the customer claim process in comprehensive home insurance, with Lovys for home insurance offered by the French bank Ma, and with Pledg to launch Django, its split payment subsidiary. .

La Poste also took advantage of the VivaTech show in Paris to announce the launch of a data and artificial intelligence school that aims to attract and train new talent in professions that will drive La Poste’s continued digital transformation.

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