Opencell has just announced a € 6.8 million Series A to accelerate the development of its agile and open source monetization platform. Its CEO, David Meyer, wants the Opencell company to occupy the top of the ranking of agile monetization solutions in Europe.
FinTech, which publishes a monetization and billing solution for digital services, is aimed at players whose business model is based on subscription or use. Originally deployed in the telecoms sector, the solution is increasingly appealing to the mobility, energy, cloud, retail and e-commerce sectors.
This expansion reflects a fundamental trend, namely the emergence of an economy based on service and sharing. There is very clearly a diversification of business models due to “the paradigm shift in consumption,” said David Meyer, CEO of Opencell, to .
In the B2C sector, the dominant models of Spotify and Netflix have revolutionized uses. This phenomenon is explained in particular, for David Meyer, by the fact that “the younger generations are less attached to the principle of property”. Taking the example of a person living in Paris, the CEO of Opencell considers that it is rarer today to see a young urban person buying a car, when the Blablacar-type intercity transport modes and mobility services of the Smovengo type (Opencell customer) are also widespread. “Consumption patterns are changing in all areas. We prefer to hire a service that exactly meets our needs. “
And the observation is the same in B2B. “Today it is unlikely that a CIO will want to build a data center. The cloud has been established, ”says David Meyer.
Create new additional income
The fintech sector has undoubtedly strengthened in 2020, and the context of Covid-19 has favored e-commerce, creating new needs. Contactless, mobile payment and online shopping are among the market trends that have also accelerated in the past year. Taking advantage of these consumption habits, Lydia completed a record series B of 112 million euros, and saw a doubling of the volume of transactions carried out in 2020 compared to 2019. Another product which is on the rise in the sector of fintech: split payment. Alma, a start-up that makes payment in several installments possible, has just raised 49 million euros and announces that it has multiplied the number of its partner merchants by six between 2019 and 2020.
Opencell offers its customers the possibility “to innovate and create new sales models”, reads a press release. And the e-commerce sector is no exception. For Fnac-Darty, Opencell takes care of everything relating to the extension of warranty and the loyalty card.
To be agile, Opencell’s solution can adapt to “several scenarios”, explains David Meyer. First case, Opencell is aimed at “large operators who have aging systems and are not very agile”. Opencell then disrupts the model and participates in the radical transformation strategy aimed at getting rid of old ERP. To take the example of Fnac-Darty, Opencell provides a solution for a subscription-based source of income. Fintech is aimed here at companies which “are thinking of transforming their system on subscription mode”. There, the services of Opencell come in addition to the legacy, and the fintech is initially attached to “aggregate all the new services”, adds David Meyer.
SaaS customer data is hosted on the OVH cloud. A “cloudready” version is also available, offering customers the option of installing the solution on their own public or private cloud.
Moving from a techno culture to a commercial enterprise
Despite a period of uncertainty due to the Covid crisis, Opencell experienced a “spectacular end of the year”, posting a turnover of 3.6 million euros at the end of 2020 (+ 40% on a year). The start-up has 70 clients, 80% of which are based in France and 20% internationally. To grow, Opencell relies on its partners Salesforce and Microsoft, with whom the company interfaces naturally to integrate their CRM.
With this funding, Opencell plans to expand its teams and accelerate its international development with the opening of an office in Germany to reach Northern Europe by June. Opencell thus wishes to move from a “very techno” culture to move towards a more commercial company, explains David Meyer. FinTech also intends to “continue its ambitious product roadmap”, notably by offering “dynamic pricing” very soon.
Opencell’s solution also promotes co-development. “We are far from the projects of the large ESNs. We are the new generation, ”concludes David Meyer.