Fintech SaaS startup N2F has just secured €24 million in strategic growth investment to fuel its international growth. The French startup aims to help companies of all sizes reduce the time and cost of processing expenses.
The classic startup tale: entrepreneurs coming up with a solution in their garage, aiming to build the ‘next big thing.’ That’s the story behind N2F, a startup built in the suburbs of Lyon by Nicolas Dubouloz and Jean-Joseph Reslinger in 2015. The innovators wanted to solve the time-consuming manual process of managing expenses, making it all more efficient and streamlined.
Now, the startup has secured €24 million as it plans international expansion, taking on European and North American markets. The funding was led by PSG Equity.
Nicolas Dubouloz, CEO: “We believe that this partnership with PSG marks the beginning of a new phase of growth for our business and reaffirms both the relevance of our solutions and our position as a market leader. We are delighted to have an expert in the European Bt2B SaaS market by our side going forward; not only do we share the same values, but also the aspiration to grow the business with customer satisfaction and employee well-being at its heart.”
The startup offers business expense management software that enables users to process business expenses up to 4x faster. The web and app platform digitizes the process of logging, approving and archiving expense reports, simplifying the daily life of accountants, managers and employees.
N2F combines features such as smart scanning, tax-compliant archiving, real-time monitoring and AI-powered anti-fraud. It also provides native integrations with accounting software, banks, travel agencies or fleet management solutions.
The French company initially marked itself towards SMEs, but, has since expanded to support companies of all sizes. Today, the platform is serving blue-chip European enterprises such as Iliad, DMG MORI and Holidu.
Since its launch, the innovative fintech has quickly established itself in the market. It now counts over 10k client companies across 86 countries, with a product that’s available in 11 languages.
With this growth investment from PSG, the plan is to keep growing. The investment will support international market expansion across Europe as well as North America. It’ll also be used to increase the team headcount as well as launch Keeple, a SaaS solution to manage personnel leaves and absences.
Edward Hughes, Managing Director at PSG: “Combining advanced technology with leading customer service has been N2F’s secret in achieving such exceptional growth in 2022. With N2F, we believe we have identified one of the best software solutions in the market and with its established track record of innovation and success, we believe the company has tremendous growth potential. We are excited to partner with Nicolas and the N2F team and look forward to growing the business together.”
