Open CNP, the Corporate Venture fund of CNP Assurances, announced today that it has acquired a stake in Paylead, the fintech company specialising in the creation of loyalty programmes based on advanced analysis of banking data.
Open CNP, the Corporate Venture fund of CNP Assurances, is participating, alongside Hugues le Bret and Side Capital, in the €6 million series A fund-raising that will enable fintech Paylead to continue its growth.
Founded in 2016, Paylead enables banks and fintechs to create intelligent loyalty programmes based on advanced analysis of banking data. These programmes provide the cashback service to customers on their online and offline purchases. Paylead draws on the PSD2 directive to analyse, with their consent, consumers’ consumption habits and expenditure. Brands are then able to offer them personalised commercial offers, while preserving their anonymity. Paylead’s model is simple and transparent: for each purchase made at a partner store, the consumer receives cashback or savings transferred to his or her account instantly.
“With the funds raised we will be able to significantly strengthen the technology and data teams in charge of consolidating the proprietary technology for the analysis of banking data, which gives Paylead its leading position in this growing market. We expect to hire no less than 20 staff in these two professions this year. We will also recruit a sales team to expand our network of retailers”, explains Charles de Gastines, CEO of Paylead.
“With an ambitious team, Paylead has created a unique technology for analysing banking data, which benefits banks, retailers and the end customer. We are pleased to support the growth of this fintech through our Open CNP Corporate Venture fund”, comments Eric Lasaygues, Director of Partnership Development at CNP Assurances, who also joins Paylead’s Strategic Committee.
Paylead is the 10th investment of Open CNP, the Corporate Venture fund of CNP Assurances, with a budget of €100 million over 5 years. Since its creation, Open CNP has already invested in October, H4D, Alan, Stratumn, MyNotary, Lydia, YesWeHack, Intercloud and CybelAngel.