The game is currently being developed by Homo Ludens, an independent game studio based in Paris and incubated by LINCC-Paris&Co.
Avenseo, a startup supported by Swave, Paris&Co's innovation platform dedicated to fintech, has announced a €10 million round of financing from French investment fund Newfund to optimize professional loan processing
Founded in 2017, Avenseo offers a way to finance VSEs cash flow needs with quickly delivered credit. To optimize the business loan experience and offer a suitable solution for VSEs that would have trouble applying for more traditional credit due to lack of time or resources, fintech offers a digital platform that seeks to eliminate banking complexities. Avenseo promises to respond within two hours and, subject to a positive response, to transfer the requested funds within 24 hours.
Avanseo's platform uses a machine learning model capable of analyzing 10,000 data sources per loan request. Access to this data was made possible by the second Payment Services Directive (PSD2), which encouraged open banking. The use of artificial intelligence "minimizes both the processing time of the file and the decision errors", explains Amine Hebri, CEO of Avanseo. In practice, the VSE fills in a form and directly connects its company accounts to the Avanseo website. The interest rate is calculated according to the size of the company, its activity, the duration of the loan, the loan amount and the perceived risk. VSE managers can borrow between €3,000 and €50,000 without a deposit. Repayment can be spread over 3 to 12 months at rates ranging from 4% to 15%.
With this €10 million raised, Avanseo wants to launch the first closing of its fund dedicated to VSE cash flow financing. The fund aims to close at €20 million, which will be redistributed to companies in the form of loans. "Avanseo is responding to a more than ever obvious need - cash flow financing for very small businesses - with a truly innovative answer based on open banking and a proprietary algorithm whose advantages are clearly perceived by the customer, who benefits from a simple and fast process. The founder's experience in banking and the company's AMF approval also give Avanseo a head start. Newfund is happy to help this young company continue its development and become the reference in VSE lending," said Augustin Sayer, Partner at Newfund.