GP Bullhound advises Budget Insight on its sale to Crédit Mutuel Arkéa
Paris, 12 July 2019 – GP Bullhound acted as the exclusive financial advisor to Budget Insight on its sale to Crédit Mutuel Arkéa.
Budget Insight is a leading B2B account information and payment initiation service provider, offering an end-to-end platform for Open Banking enabling its clients to provide innovative financial services to end users. The company offers data aggregation services to more than 160+ clients and is connected to 300+ fintech, financial institutions and insurers globally. Bootstrapped since its beginnings, Budget Insight achieved a stellar growth while being profitable.
The acquisition will enable Arkéa to reinforce innovation in the user experience they offer to their clients while taking a further step towards Open Banking. The founders of Budget Insight have the ambition to push the leadership of Budget Insight forward, supported by Arkéa and its tech startups’ ecosystem.
Clément Coeurdeuil and Romain Bignon, co-founders of Budget Insight, commented: “During the sale process, GP Bullhound has really been able to understand and extract the fundamental value of Budget Insight. Like a jeweler polishes a raw diamond, GP Bullhound made sure the acquirer could understand all the possibilities that the acquisition would offer.”
Joy Sioufi, Director at GP Bullhound commented: “Working with Clément and Romain has been a great adventure, they have gathered an ambitious and determined team around them, best positioned to bring the company to the next level, backed by Arkéa’s ecosystem.”
The transaction is further testament to GP Bullhound’s market leading position advising on M&A and Private placements in the Fintech and software sector, with marquee transactions such as the investment from Bessemer Venture Partners in Mambu, the investment from Kinnevik, Paypal and Avios in Monese, the investment of Index Ventures and Balderton in Prodigy Finance and the sale of Appbuddy to Validity.
The sale is subject to regulatory approval.
About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com, or follow on Twitter @GPBullhound