Tinubu Square, a Paris, France-based cloud technology company for the trade credit industry, has raised €11.3m in funding.
Backers include the Fonds Stratégique d’Investissement (FSI) and the company’s founding shareholders.
Existing investor Gimv has divested the largest part of its minority stake in Tinubu Square to FSI. For its remaining stake, an arrangement between Gimv and the management of the company allows both parties to sell/purchase their stake within the coming 30 months.
The company intends to use the funds to strengthen its financial structure and finance its expansion plans, as well as to further develop its presence among institutional customers (credit insurers and banks) and boost its presence in the corporate sector.
Created in 2000 by President Jerôme Pezé, Pierre-Emmanuel Albert et Olivier Placca, Tinubu provides a SaaS-based innovative range of services and software for companies (Risk Management Center), credit insurers and brokers (Credit Insurance Suite).
Clients include blue chip companies such as CESCE, Coface, Credit Agricole, RBS, etc.
Present in London since 2010, the company has recently established a subsidiary in Singapore.