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Idinvest invests in French social payments business Leetchi

21 May 2012

Parisian venture capital firm Idinvest Partners has led a €4m fundraising round for Leetchi, a European business focused on social payments.

Previous investor 360 Capital Partners also participated in the financing.

Founded in 2010, Leetchi has developed a comprehensive payment API to offer a web-based payment platform allowing users to share bills online for gifts, charitable donations, and other group related activity such as holidays.

With over 30 per cent 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, it said.

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, it added.

The round was closed by Clipperton, a European corporate finance boutique focused on investments in the technology and media sectors.

“Leetchi is successfully building a unique value proposition in the European online payment space, through its focus on social interactions and viral marketing,” said Clipperton partners Thomas Neveux.

“We are delighted to have helped to strengthen the investor base of Leetchi, which now gives Celine and her team the necessary fuel to grow abroad.”

Earlier this year Idinvest also invested in a €23m financing round for Dutch pharmaceutical company Prosensa. New Enterprise Associates led the round.

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