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moreRSM carried out the buy-side financial due diligence for Truffle Capital, an independent European Venture Capital firm, as part of the second funding round of RollingFunds, a fintech facilitating access to working capital loans for small and medium-sized businesses.
Led by Benoît Coustaux, RSM Partner, the team included Antoine Pierre and Charles Tiran.
Through this transaction, the Corporate Finance division strengthens its positioning as an advisor to private equity funds in the financial analysis of fintechs.
RollingFunds completes a Series A
RollingFunds, a fintech that offers white-label credit scoring and management solutions to suppliers of small businesses, fully integrated into their business relationships, has just completed a Series A. The Paris-based startup announced a second fundraising of €5.35 million from AG2R La Mondiale, the reinsurer CCR, and its historical shareholders PRO BTP Innovation, Truffle Capital, along with “a dozen business angels”.
Incubated at Truffle Capital since its launch in 2019, RollingFunds used its seed round to accelerate the platform’s launch in 2019. This second funding round will enable the company to continue investing in its technology and to speed up its commercial development in France and Europe, with the goal of doubling its workforce (currently 10 employees), by strengthening its data science team and creating a sales department.
“Due to Covid, the timing is excellent to make RollingFunds a leader in France and Europe,” said Bernard-Louis Roques, CEO of Truffle Capital.
RollingFunds, a fintech founded in 2019, operates as an intermediary in banking and payment services and is registered with ORIAS under number 20001276. To revolutionize access to credit for small businesses, RollingFunds relies on three pillars:
- A network of partners who share their knowledge of small businesses with which they have business relationships
- Artificial intelligence and algorithms that integrate this data and can assess, in real-time, the borrowing capacity of small businesses
- A tech platform that allows RollingFunds’ solution to be embedded within partners’ systems.
Founded in 2001, Truffle Capital is an independent European Venture Capital firm specializing in disruptive technologies in the IT sectors (FinTech and InsurTech) and Life Sciences (BioTech and MedTech). Truffle Capital’s mission is to support the creation and development of innovative young companies capable of becoming tomorrow’s leaders. Chaired by Patrick Kron, alongside Philippe Pouletty and Bernard-Louis Roques, co-founders and managing directors, Truffle Capital has raised $1.1 billion in assets and has supported more than 75 companies in the digital technology and life sciences sectors since its creation. At the end of 2017, Truffle Capital successfully completed the first closings of its two new institutional funds, the Truffle Financial Innovation Fund and the Truffle BioMedTech Fund, as well as the closing of a dedicated fund for the FRR (“Fonds de Réserve pour les Retraites”). In December 2019, Truffle Capital announced the successful fundraising of nearly €400 million for its Venture Capital Funds: Truffle BioMedTech and Truffle Financial Innovation.
RSM is the 6th largest global network of audit, consulting and accounting firms, operating in over 120 countries and bringing together more than 48,000 professionals and partners.
In France, RSM is a key player in audit, accounting and consulting services, operating in the main regional economic hubs, with offices in Paris, Lyon-Chambéry-Grenoble, Montpellier-Nîmes, Nantes-Laval, Strasbourg-Colmar, Réunion Island and Mayotte. RSM now has more than 1,200 professionals across the country and continues to expand regionally. The group has structured its multidisciplinary offering around five areas of expertise: Audit, Accounting, Consulting, HR & Payroll, and Legal & Tax Advisory.
RSM’s Corporate Finance division supports companies and their management teams, investment funds, as well as investors and shareholders, in France and internationally, helping them secure and optimise their financial decisions. It includes 20 professionals based in Paris and in regional offices, including 3 partners. RSM Corporate Finance provides services in Transaction Services, Valuation & Complex Financial Modelling, Capital Operations, and Restructuring.
