REX: LePotCommun on Course

The French FinTech LePotCommun for building online money pools was bought out by BPCE in 2015. They report on their business results and announce record figures.

LePotCommun was launched over 7 years ago and just crossed the 10 million users milestone.
Goals: craft new community-oriented experiences for payments, purchases and money transfers, through merging digital services and added-value features.
They reported €100 million for 2018 vs €70 million for 2017.
Reasons behind this progression
- Strong organic growth, with a viral service
- Efficient communication strategy in 2018
- Increasingly B2B-oriented approach, for helping partner brands
This FinTech is currently crafting a social payment tool for these brands. They act as a digital agent charging installation costs as well as fees based on volumes. They claim roughly 50 partner brands.

High potential market. According to KPMG’s assessments, online money pots would have amounted to €330 million in France in 2018, vs €225 million in 2017. LePotCommun plans to bet on this opportunity.
Attracting new customers. This start-up teams up with various players, including Décathlon, SNCF or Air France, enabling their customers to rely on grouped payments using the LePotCommun button. They will also be focusing on boosting their BtoBtoC strategy throughout 2019.

LePotCommun was bought out by BPCE in Q4 2015. They now rely on synergies with different entities from this group to boost their growth. They also work with Dalenys –FinTech bought out by Natixis in 2017– so LePotCommun could become a collaborative means of payment on their partner websites.
Even so, Leetchi still lead the local market: they reported €200 million for 2018 (or twice more than LePotCommun). These players will have to face competition from a US-born company: Tilt, a Californian start-up trying to win the French crowdfunding market.
Lastly, PayPal also launched their Money Pool service in 2017: a service participants can use for free.

Category : Alertes quotidiennes