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Online Payments

Prime Ventures invests in SlimPay

Thursday 9 July 2015 | 12:23 PM CET

SlimPay, a payments processor, is raising EUR 15 million from Prime Ventures investments company to accelerate growth in the payments processing industry.

This round of funding marks a new stage in SlimPay's development and will allow it to support its growth in France and internationally. This fundraising was accomplished through a single investor: Prime Ventures, a growth capital firm with offices in the Netherlands and the UK. Prime Ventures invests in growing European firms with the objective of making them global leaders.

Founded in 2009 by Jérôme Traisnel and Jean-Louis Hoenen, SlimPay established in recurring payments - subscriptions and repeat purchases - due to its expertise regarding the digitalisation of SEPA direct debits. With EUR 2.4 billion processed in 2014, SlimPay positions as a player in Direct Debit.

Europe possesses a significant advantage over other areas, particularly the US, namely the interconnection among its various banks and the normalisation of its regulation and banking standards (SEPA). Facing a decline in the use of checks and the inadequacy of credit cards for subscription and repeat purchases, the advent of direct payments through bank accounts, coupled with other means of payment, presents a solution with great potential.

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