Crédit Mutuel Arkés has acquired a majority stake in the fintech Leetchi Group. The bank has acquired 86% of the French fintech firmwho founded MANGOPAY. The remaining 14% will be retained by Céline Lazorthes, founder and CEO of Leetchi Group. Crédit Mutuel Arkés will also invest 10mn into Leetchi Group.
Founded in 2009, Leetchi Group has specialised in online payment technologies for B2C and B2B markets and, founded MANGOPAY in 2013 which processes crowdfunding platforms. The fintech firm has processed over 100mn in 2014 alone and is aiming to double this number in 2015.
MANGOPAY opened in London in 2015 and has over 700 clients across 22 countries with new offices set to open in Europe. Clients include Go Get Funding, Vinted, Liftshare and Property Moose.
The acquisition will see the Leetchi Group double its staff to 80 over the next two years and leetchi.com launch in the UK. MANGOPAY will also increase staff in London and accelerate growth from the payment solution platform.