Crédit Agricole invests in regional development

Crédit Agricole has announced the acquisition of a minority stake in Bordeaux-based start-up CibleR. The two companies are also becoming partners with the aim of supporting the digitalization of territories and promoting local consumption. CibleR offers digital coupons for discounts from local retail networks.

FACTS

• Crédit Agricole announces a minority stake in Bordeaux-based start-up CibleR.

• This investment is made through La Fabrique by CA, Crédit Agricole Aquitaine Expansion and Crédit Agricole La Réunion - Mayotte.

• Crédit Agricole is expected to help accelerate the deployment of the start-up's business. The start-up targets local authorities, tourism operators and social economy companies, offering them digital coupons for residents and tourists.

• These coupons are generally vouchers or discounts to be spent in local networks. They are offered by a conversational agent based on artificial intelligence, whose aim is to recommend activities, restaurants, etc. to visitors.

• Everything takes place on the CibleR platform, which is free of charge for merchants.

• The start-up has reached the milestone of 200,000 beneficiaries of local gift cards, and has around 300,000 points of interest in France integrated into its "city-pass" and "territorial conversational agent" offers.

• For the time being, the bank has not provided any information on the amount invested or the distribution of shares.

CHALLENGES

• Encouraging local ties and purchases: CibleR's offer aims to develop local economic players by encouraging local purchases. This targeted distribution of coupons is an effective way of strengthening ties between professionals at local level, at a time when restaurateurs and tourism operators can be impacted by falling purchasing power and rising prices.

• Impact on several levels: CibleR's work is already showing positive results. According to the start-up, one euro invested can generate up to eight euros in sales for retailers. This is a beneficial investment in the long term, as the offer helps to sustain local consumption. However, these benefits are not limited to the business sector, as the targeted offer also reaches out to priority target groups such as young people, senior citizens and people on social welfare. Coupons encourage individuals to consume locally, while increasing their purchasing power.

• Supporting the digitization of local communities: This strategic partnership with Crédit Agricole will enable the start-up to accelerate the digitization of local communities. As a result, local authorities will continue to benefit from high-performance technological solutions tailored to their needs.

MARKET PERSPECTIVE

• Last year, CibleR launched AI-Studio, a start-up studio that aims to explore generative AI in businesses. The aim is to help these companies identify AI use cases, according to the specificities of their activities.

• CibleR has also taken advantage of the launch of IA-Studio to develop the first AI-based travel companion for Crédit Agricole's Tourism division. It generates fully personalized travel itineraries based on location, time spent on site, availability and individual desires. An ingenious way of realizing the benefits of artificial intelligence in local economies.