Tinubu Square, a Paris, France-based provider of trade credit risk management solutions, received a €53m investment.
Backers included Long Arc Capital, which took a majority stake in Tinubu Square, and Bpifrance, a shareholder since 2011.
The company intends to use the funds to pursue growth in areas where it already operates (Europe, North America and Asia-Pacific), evolve its solutions and open up new market segments.
Led by Jérôme Pezé, founder and Chairman, Tinubu Square provides SaaS technology solutions for credit and surety insurers, trade finance banks and export credit agencies. Its solutions integrate data analysis, advanced decision support and process automation to enable the above mentioned clients to enhance the effectiveness of their risk management.
The company now intends to invest in R&D to address new markets (financial institutions, including multinational banks and factoring companies) and to continue to develop ground-breaking solutions for credit insurance, surety and bonding companies.
Tinubu Square currently serves customers in over 20 countries worldwide and has a global presence with offices in Paris, London, New York, Montreal and Singapore.