Prime backs French FinTech company SlimPay with €15m

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payments_lrgFrench internet payment company SlimPay has landed €15m in financing from growth capital firm Prime Ventures.

The capital injection will enable the company to support its rapid growth in France and internationally, with Prime Ventures also providing expertise in the European FinTech sector.

Founded in 2009 by Jerome Traisnel and Jean-Louis Hoenen, the Paris-headquartered company specialises in recurring payments.

Prime founder and managing partner Sake Bosch said, “We know the internet payment industry quite well and recognized that SlimPay addresses a very important pain point both for internet subscription companies as well as traditional companies.

“In addition to that Jerome is a successful serial entrepreneur and the company has made an incredible traction in the market place already and well positioned to grow internationally.”

Along with the funding, Bosch will join SlimPay’s board, along with Global Collect co-founder Ron Vollebregt.

Prime Ventures was the first investor in internet payment service provider Global Collect, which was acquired by Ingenico Group in 2014.

In September, Prime held a €170m final close for its fourth fund, which targets fast-growing tech companies.

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