Leetchi completes a €4m B round to drive its European expansion and B2B business

Clipperton Finance acted as Sole Manager of the transaction.

Paris, London – May, 2012 – Clipperton Finance, a leading European corporate finance boutique dedicated to the High Tech and Media industries, today announced the closing of a €4 million capital raising for Leetchi, the European social payments pioneer. Idinvest led the transaction, while previous investor 360 Capital Partners also participated in the financing.

Since the launch of the service in 2010, Leetchi has developed a comprehensive payment API to offer a secure and user friendly web-based solution allowing users to share bills online for gifts, charitable donations, and other group related activity such as holidays. With over 30% month-on-month viral growth in transaction volume in the last 12 months, Leetchi is scaling fast in France and the company now intends to expand into other key European markets.

This new financing will also support the growth in B2B payment solutions, a business line driven by the need of online market places and C2C platforms to offer e-wallet services to their audience.

“This new financing will be key in the expansion of the company in Europe as far as our aim is to become the leader in the space of group payments space. Working with Clipperton was a great experience enabling the team to focus on the business, while completing a great financing which will be a strong boost for the company” says Celine Lazorthes, Leetchi’s CEO and founder

Thomas Neveux and Thibaut Revel, the Partners in charge of the transaction alongside Alexis Barba, Senior Associate, commented “Leetchi is successfully building a unique value proposition in the European online payment space, through its focus on social interactions and viral marketing. We are delighted to have helped to strengthen the investor’s base of Leetchi, which now gives Celine and her team the necessary fuel to grow abroad.

This financing represents Clipperton’s third transaction in less than twelve months in the social web sector (after Kobojo in social gaming and Vestiaire Collective in social shopping) underlining its strong focus on expertise in the new generation of social web models.

 

For more information, please contact:

Clipperton Finance
Thomas Neveux, Partner: tneveux@clipperton.net
Thibaut Revel, Partner: trevel@clipperton.net
Alexis Barba, Senior Associate: abarba@clipperton.net

About Clipperton Finance
Clipperton Finance is a European corporate finance boutique exclusively dedicated to the HighTech and Media industries. Clipperton Finance advises high growth companies on financial transactions, fundraisings, capital increases and Mergers & Acquisitions. With a team based in Paris and London and an international reach, Clipperton Finance is a European leader in the sector. The team has successfully structured close to fifty high level international transactions in the European High Tech sector.