BPCE partners with iPaidThat to help entrepreneurs and accountants

FACTS

• Banque Populaire Val de France has partnered with iPaidThat, a start-up specialized in automating the accounting of SMEs. 

• Through this commercial partnership, the bank will distribute the start-up's offer to its clients, accounting firms or small companies.

• Offer: iPaidThat offers a pre-accounting service, as well as the collection and management of invoices from several sources (users' mailboxes, suppliers' sites, banks' sites or via the integration of a photo). 

• AI technologies thus enable maximum automation of the information transfer process to make it as painless as possible. 

• Functionalities :
  • storage of documents and accounting vouchers
  • automatic collection of documents in emails and other applications connectable by API
  • management of expense reports
  • bank reconciliation through a connection via Bankin'.
  • invoice editing
  • editing of graphics on company finances
  • access to customer service
  • subscription management via Stripe
  • automatic recognition of supporting documents by OCR

• Rates according to the options subscribed: between 36 and 129 euros / month.

CHALLENGES

• Implementing BPCE's commitment to working with start-ups to enhance its offering: BPCE is highly committed to supporting small businesses in their digital transformation, as recently confirmed by the launch of a digital loan designed in partnership with Minalogic. In this case, iPaidThat's primary objective is to use artificial intelligence to facilitate the work of accounting firms and enable companies to reduce the administrative time allocated to it.

MARKET PERSPECTIVE

• iPaidThat is one of the start-ups followed by BPCE since 2017, through the partnership that links the banking group with Truffle Capital. Indeed, Truffle's FinTech-AssurTech fund was financed by BPCE. iPaidThat is one of the start-ups that Truffle and BPCE have supported in recent years (along with Monisnap and ShareGroop).

• In addition, iPaidThat was a winner of the Banque Populaire NextInnov competition in 2019. This new commercial partnership confirms the track record of start-ups within the BPCE group and the bank's capitalization strategy.

KEY FIGURES

iPaid That

• More than 2,500 corporate customers and nearly 2.3 M invoices collected in 3 years. 
• 210,000 expense notes captured via the mobile application
• 900,000 invoices automatically collected in customers' mailboxes

Banque Populaire Val de France

• 560,000 customers (including 170,000 members),
• 204 agencies
• 2,247 employees