Payment software startup raises significant seed funding

  • French payment software startup Numeral has raised $ 14.6 million from investors.
  • Founded in June 2021, the Paris-based company requested funding from Balderton Capital.
  • Check out the 15-slide pitch deck that Numeral used to raise 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 Parisian startup, founded six months ago, aims to build the “operating system for financial operations teams” with its API and web application. Despite innovations in other parts of the

payments ecosystem

, B2B payments for large transactions or large payment volumes still tend to force businesses to use existing banking services.

“Companies are being stuck using software developed 15 years ago to send and reconcile payments,” Edouard Mandon, co-founder and CEO of Numeral told Insider. “While companies like 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 – transfers and direct debits, as opposed to card payments – amounted to $ 228 trillion in 2020 in Europe alone.

“Solutions such as

open bank

where Bank-as-a-Service platforms have emerged over the past 5 years, ”Mandon added. payments with their existing banks. “

Numeral’s funding round was led by Balderton Capital of London, with the participation of angel investors such as Monzo founder Tom Blomfield, Qonto founder Alexandre Prot and Stripe Europe manager Guillaume Princen alongside Kima Ventures .

“We will use the funding to grow the team from 10 to 40 over the next few months, further develop the product with automation and orchestration features, add more banks to the platform and become the primary solution. payment transactions in Europe, ”Mandon added. .

Check out Numeral’s pitch deck below:


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