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Partech Newsletter: $500M and 1 acquisition - Catching more than rays this summer!

As the summer draws to a close, it allows us to reflect on what is most important to us. Given that we haven't been able to travel far and wide during the summer break, we have taken this opportunity to reconnect with family, recharge our batteries, and discover new parts of our own countries. While we begin to look towards the end of 2020, we find cause for celebration for those who have adapted during this crisis and managed to achieve success in their respective fields. Big congratulations are in order for all our featured companies and we are delighted to introduce 3 exciting new companies to the Partech family: My Real Trip, Quibim and Sorare - Welcome! 

 Now, let's get you in the know!

 The Partech Team 

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New Alumnus 

OVHcloud acquires OpenIO 

We are very proud to announce that three years after our first investment, OpenIO has been acquired by OVHcloud. This is fantastic news as this acquisition by a large French tech company will allow OpenIO to grow even further and highlights the strength of the French and European tech ecosystem. Massive congratulations to Laurent Denel (CEO), Jean-François Smigielski (CTO), Guillaume Delaporte (VP Sales & Customer Success), Romain Acciari, and the whole team at OpenIO!

$500 Million Raised by our Portfolio Champions

auxmoney: $177 Million 

auxmoney raised $177 Million in new investment. The investment round was led by Centerbridge with existing investors such as Foundation Capital, Index Ventures, Union Square Ventures remaining fully invested. The money raised will allow auxmoney to realize their goal of becoming a leading digital loan provider throughout Europe

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Toss: $173 Million

Viva Republica, parent company of Toss received $173 Million in new funding. Sequoia Capital China led the round and was joined by investors including Aspex Management, Kleiner Perkins Digital Growth Fund, Altos Ventures, Goodwater Capital, and Greyhound Capital. The money raised will allow Toss to expand even further and realize its goal to provide all its financial services on one app.

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ABTasty: $40 Million

The global leader in feature management, experimentation and personalization solutions, raised $40M in a Series C round of funding. The fundraising was led by Credit Mutuel Innovation. ABTasty will use the funding to invest significantly in their experience optimization and feature management capabilities. The total investment raised by the company has reached $64 million to date.

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My Real Trip: $36 Million

South Korea’s leading online travel platform received $36M in funding in a round led by Altos, IMM, and Smilegate. New investors included Korea Development Bank, Axiom Asia Private Capital, Partech, and Tekton Ventures. My Real Trip plans to use the funding to upgrade its technology and hire more staff. It wants to improve its search and recommendation algorithm and the process for users to customize their itinerary

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Drover: $26 Million

The European leader in car subscriptions, secured a new $26M investment was co-led by new investors Target Global, RTP Global and Autotech Ventures. Additional new investors include Channel 4 Ventures and Rider Global alongside participation from existing investors. Drover will put the new funds to use by scaling up their ‘car-as-a-service’ business across both UK and France

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tradedepot: $10 Million

The leading African eCommerce platform for consumer goods raised $10M in a pre-Series B equity round. The fundraising was led by Partech with participation from new investor International Finance Corporation, the Women Entrepreneurs Finance Initiative and MSA Capital. The company will use this investment to integrate the informal supply chain in Nigeria and release new financial products/credit facilities to aid its retailer


Quibim: $8 Million

Medtech company QUIBIM, secured $8M in a seed funding round. The fundraising was co-led Amadeus Capital Partners and Adara ventures, with others such as Apex ventures and Partech participating. The funds will go towards strengthening the AI platform and helping the business to expand internationally

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Madkudu: $5.5 Million

Madkudu raised $5.5M in a Series A funding round led by Benhamou Global Ventures with contributions from Alven and Partech. The new fundraising will be used to expand go-to market functions and speed up product development and innovations. This funding will also help the company expand its board of directors, advisory board and leadership team

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Sorare: $4 Million

Sorare, a global Fantasy Football Game, achieved a raise of $4M in a seed round led by e.ventures, alongside Partech, Fabric Ventures, Semantic Ventures, World Cup Champion André Schürrle and existing investors. Sorare will use the new funds to boost their team, as well as helping the company finalize its license partnerships with five leagues and 150 clubs by year-end. 

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