The money came PSG Equity, a growth equity firm that partners with software and technology services companies to help them accelerate their growth and expand in Europe and the United States. PSG takes a stake in the management team and Crédit Mutuel Arkéa. Convinced by the growth potential of Budget Insight and the natural synergies resulting from this merger, the banking group entered the capital of the company in 2019, allowing fintech to consolidate its technological lead and creating favourable conditions for this new stage of development on an European scale. Crédit Mutuel Arkéa will continue to collaborate with Budget Insight to help drive innovation in the financial services industry.
A fintech created in 2012, Budget Insight deploys its technologies to an ecosystem of more than 200 companies and institutions including the largest French banks, insurance companies, and asset managers, as well as fintechs.
Budget Insight's API allows its customers and their end users to aggregate financial data and documents and make payments. Through the technologies it develops, its user experience, and its expertise in European regulatory requirements, Budget Insight aims to empower its clients to create more value for users of financial services. Its products cover a range of services ranging from asset management, credit, loyalty, cash management for businesses, and payments.
This new partnership should allow Budget Insight to develop new products and increase its European footprint. To support this acceleration phase, Budget Insight plans to strengthen its workforce by 2025. 50 positions are already open in 2022 to expand its tech, product, and sales teams.
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