{"id":14668,"date":"2024-08-02T13:38:23","date_gmt":"2024-08-02T13:38:23","guid":{"rendered":"https:\/\/trustpair.com\/blog\/trustpair-raises-e20-million-to-become-the-first-saas-platform-for-third-party-risk-management-for-financial-departments\/"},"modified":"2025-03-25T15:19:04","modified_gmt":"2025-03-25T15:19:04","slug":"trustpair-raises-e20-million-to-become-the-first-saas-platform-for-third-party-risk-management-for-financial-departments","status":"publish","type":"post","link":"https:\/\/trustpair.com\/gb\/blog\/trustpair-raises-e20-million-to-become-the-first-saas-platform-for-third-party-risk-management-for-financial-departments\/","title":{"rendered":"Trustpair raises \u20ac20 million to become the first SaaS platform for third-party risk management for financial departments"},"content":{"rendered":"

Trustpair, publisher of the third-party risk management platform, specialised in B2B payment fraud, announces a \u20ac20 million fundraising round led by Tikehau Ace Capital alongside its historical investors Breega and Axeleo Capital.\u00a0<\/span><\/i><\/p>\n

Founded five years ago, Trustpair is the next-generation third-party risk management platform that enables companies to prevent the risk of B2B payment fraud, optimise Procure-to-Pay process and secure third-party interactions.<\/span><\/p>\n

The platform has been adopted by more than 200 Large Corporate clients, is acclaimed by the major banking players in the market (Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, Natixis, Cr\u00e9dit-Agricole CIB) and counts more than 100 employees. Thanks to this new round of financing, Trustpair plans to consolidate its position as market leader in France, to internationalise its sales activities in Europe and the United States, to hire more than 200 talents by 2024, and to extend the value of its offer by meeting the needs of financial departments for support in managing third-party risks.<\/span><\/p>\n

“In 2021, the damage caused by B2B payment fraud reached 20 billion euros and more than 70% of large companies were victims. Fraudsters use very sophisticated means to usurp the identity of suppliers or customers and collect the sums due in their place. Financial departments are at a loss because 90% of them control the information of their third parties with costly and obviously fallible manual controls. At Trustpair, we are convinced that digital technology is the key to reviving the confidence and performance of financial departments in managing third-party data. Our promise is to rebuild confidence in their processes while simplifying their daily lives” explains <\/span>Baptiste Collot, CEO and co-founder of Trustpair.<\/b><\/p>\n

“In light of the worrying acceleration of the phenomenon of money transfer fraud, Trustpair has developed an offer that addresses the issue of digital trust, which is essential in exchanges between customers and suppliers and which is at the heart of our cyber fund’s investment strategy. We were particularly impressed by the fast growth of the company, which is led by a trio of visionary founders who have been able to bring together talented people. We are delighted to be able to use our expertise in the field of digital trust, coupled with Tikehau Capital’s international network, to support Trustpair’s growth, particularly in the United States,” said <\/span>Gilles Daguet, Managing Director of Tikehau Ace Capital.<\/b><\/p>\n

“The market opportunity that Trustpair addresses is very large, and no player has so far succeeded in offering a global solution to its corporate clients. Backed by its partners and with a first step in the US, the Trustpair team is well positioned to establish this coverage and offer a reliable and secure international solution. We are delighted to renew our support to their ambition.” <\/span>Isabelle Gallo, Partner at Breega.<\/b><\/p>\n

“Axeleo Capital has been supporting Trustpair since its seed phase and we are delighted to participate once again in its development. This new financing illustrates our willingness to support tomorrow’s tech leaders, who bring innovative and concrete solutions to major challenges such as security. This renewed confidence fully illustrates our approach, which consists in supporting the most promising startups over the long term and in the strategic phases of their development. <\/span>Mathieu Viallard, General Partner of Axeleo Capital.<\/b><\/p>\n

About Trustpair\u00a0<\/span><\/h3>\n

Trustpair is the next-generation third-party risk management platform, specialising in the prevention of B2B payment fraud<\/span><\/p>\n