In brief: Green Got Becomes a Payment Institution

The French neobank Green Got, specialized in the proposal of an eco-responsible model of financial services, has just realized its ambition to become a payment institution. After filing her licence application at the end of last year, she announced that she had received a positive return from the CPRA.

Green Got made a fundraiser of €5 million in May 2023, including €2 million in an 80-minute crowdfunding campaign with 1,350 investors. This was the second round of the FinTech table after its first pre-launch campaign in 2021.

Since then, Green Got has been operating on the French market and offering its alternative and eco-responsible financial services. But in order to radiate on the market, it is now placing on its new authorisation just obtained from the Supervisory and Resolution Authority (ACPR) as a Payment Institution (EP), under suspensive conditions.

If, initially, Green Got states that she will continue her work as a Payment Services Provider, her own approval will allow her, in the medium term, to migrate her accounts to her own technological and regulatory architecture and gain autonomy.

In particular, this approval should allow Green Got to expand its client prospecting efforts. While FinTech currently offers its services to individuals and micro-enterprises, it also plans to open accounts to professionals.

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