Groupe BPCE confirms its commitment to Truffle Capital
On December 18, 2019, Truffle Capital announced that it had raised €140 million from institutional investors including Groupe BPCE for its new Fintech-Insurtech fund.
In continuation of its partnership, and following the initial closing on November 16, 2017, Groupe BPCE is demonstrating its ongoing commitment to Truffle Capital by investing in this fund dedicated to the Fintech and Insurtech sector. This decision confirms the Group’s determination to be present in targeted technological fields such as artificial intelligence, data, and machine learning and, above all, to support the development of innovative start-up companies capable of becoming tomorrow's technological leaders and transforming the financial industry.
Since the first closing in November 2017, five promising fintech-insurtech companies – namely MoneyTrack, RollingFunds, IPaidThat, Monisnap, and Sharegroop – have been created and/or supported in the areas of cash management, payments, money transfer or invoice processing.
The management company also announced another round of fund-raising, also targeted at French and foreign institutions, of €250 million dedicated to medtech and biotech companies.