Libéo accelerates its development, including internationally

Libeo, the Paris-based FinTech payment platform specialising in business-to-business payment and management, has just presented its ambitions for the future. In addition to France, Libeo is now planning to position itself across the Channel by setting up in London. This is a first step towards a wider internationalisation, motivated by the importance of European companies' needs in terms of dematerialisation and invoice payment.

FACTS

• Libeo launched its BtoB solution in France three years ago. It is now expanding geographically, by opening its first office outside France. Libeo has chosen the United Kingdom, with London, to begin its internationalisation.

• The FinTech plans to offer :

• a one-click payment service with no limit on the amount,

• an all-in-one automated tool to link customers and suppliers (allowing companies to pay and get paid on the same interface),

• its existing accounting tools.

• Libeo will set up in London in mid-May.

CHALLENGES

• Continue accelerated growth: Libeo claims a 70% growth in the first quarter. The FinTech's teams have grown from 30 to 150 employees in one year. They now serve nearly 150,000 companies. To maintain this growth, the FinTech plans to recruit 100 new employees in the coming months.

• The beginning of a larger project: Libeo says it has recruited Glen Foster, a former employee of Xero, an accounting management specialist open to Open Banking. His position is defined as Manager Director UK & North Europe. He thus clearly states the intentions of the start-up, which therefore go beyond the sole British borders. However, the FinTech did not specify its ambitions in terms of internationalisation, preferring to emphasise that it planned to become the European leader in business-to-business payments.

MARKET PERSPECTIVE

• Launched in 2019, Libeo has developed a SaaS platform combining dematerialisation and centralisation of invoices with a direct payment solution. It meets the needs of many French VSEs and SMEs. Since then, Libeo has been able to develop, with a lot of fund raising and partnerships, such as with the QuickBooks accounting solution for example.

• Its dynamism has enabled it to compete with other equally promising start-ups. The FinTech has, for example, acquired the invoicing software TrackPay and, more recently, acquired a stake in the French collection solution Rubypayeur.