- French payments software startup Numeral has raised $14.6 million from investors.
- Founded in June 2021, the Paris-based company has brought in funding from Balderton Capital.
- Check out the 15-slide pitch deck the Numeral used to land the funds below.
Numeral, a fintech that allows tech companies to connect to their banks and automate payments, has raised $14.6 million in fresh funds.
The Paris-based startup, which was founded six months ago, aims to build the “operating system for finance operations teams” with its API and web app. Despite innovations in other parts of the
payments ecosystem
, B2B payments for large transactions or large volumes of payments, still tend to require businesses to use legacy banking services.
“Companies are stuck using software developed 15 years ago to send and reconcile payments,” Édouard Mandon, Numeral cofounder and CEO told Insider. “While companies such as Stripe and Adyen have developed APIs for cards and alternative payment methods, there is no such solution for bank payments.”
The company estimates that bank payments – credit transfers and direct debits, as opposed to card payments – amounted to $228 trillion in 2020 in Europe alone.
“Solutions such as
open banking
or Bank-as-a-Service platforms have emerged over the last 5 years,” Mandon added. “They are great solutions, but do not address the need of tech companies that need to process large volumes of payments with their existing banks.”
Numeral’s funding round was led by London’s Balderton Capital, with participation from prominent angels including Monzo founder Tom Blomfield, Qonto founder Alexandre Prot, and Stripe’s head of Europe Guillaume Princen alongside Kima Ventures.
“We will use the funding to grow the team from 10 to 40 in the next few months, further develop the product with automation and orchestration features, add more banks to the platform, and become the leading payment operations solution in Europe,” Mandon added.
Check out Numeral’s pitch deck below:
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