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Data specialist INVYO accelerates its development with a new funding round

INVYO, a technology solutions publisher specialised in data processing and analysis, announces that it has raised 1.4 million euros as part of its pre-Series A, an amount that is expected to be brought to 2 million euros in the coming months via non-dilutive financing. Funds Accurafy4, Mandalore Partners and Inovexus in partnership with SideAngels are entering the capital as strategic financial investors, with the co-founders retaining a majority of the capital.

October 11, 20236 min read

The startup raises 1.4 million euros and brings Accurafy 4, Mandalore Partners, and Inovexus in partnership with SideAngels into its capital.

Paris, 11 October 2023 - INVYO, the leading technology solutions publisher specialised in data processing and analysis, announces that it has raised 1.4 million euros as part of its pre-Series A. This amount is expected to be brought to 2 million euros in the coming months via non-dilutive financing, currently under discussion with a banking pool that will take part in financing this round.

In this first tranche, venture capital funds Accurafy4, Mandalore Partners, and Inovexus in partnership with SideAngels, are entering the capital as strategic financial investors. Co-founders Alexandre VELLUTI, Gautier VELUT and Xavier GOMEZ, respectively CEO, CTO and COO of INVYO, retain a majority of the capital.

A strong mission around the black gold of data

Since 2018, INVYO has been helping companies accelerate their business by using data as a lever.

Data is the black gold of the 21st century: accelerating revenue, personalising the customer experience, improving internal processes and operational efficiency.

Companies do not always have the expertise and the capacity to exploit the levers of data. As a result, the average annual loss for French companies due to poor data management amounts to 1.3 million euros! INVYO's mission: to reconcile the business and data worlds through the deployment of impactful, business-oriented solutions.

INVYO is already well established with financial players, such as investment funds or family offices, which quickly grasped the many benefits of a data-driven approach: improving performance by investing in the best deals thanks to an algorithmic approach, automating dealflow sourcing and qualification, identifying market signals before the competition, reducing analysis costs, etc.

Today, INVYO, whose headquarters are in Paris, has a team of 15 people based in France and Spain and around thirty clients. Its revenue doubled between 2021 and 2022 and is expected to double again between 2022 and 2023.

A significant funding round to accelerate ahead of a forthcoming Series A

After raising nearly 760,000 euros in 2019 and 2020 from around ten business angels, INVYO decided to raise 2 million euros, including 1.4 million euros in equity, in order to accelerate its development.

To do so, the startup approached four financial players recognised in the sector for their investments in fintechs and for their DNA of operational support for entrepreneurs and their teams: Luxembourg fund Accurafy 4 is leading and is the majority investor on this round, accompanied by VCs and accelerators Mandalore Partners, and Inovexus in partnership with SideAngels. The non-dilutive financing, for 500,000 to 600,000 euros, is expected to be completed in the coming months with a banking pool with which INVYO is in advanced discussions.

The funds raised will mainly be used to invest in the catalogue to accelerate the go-to-market of INVYO solutions with Finance and Retail players, to replicate in other countries the success encountered in Spain, in particular in the United Kingdom, Switzerland and Belgium, to recruit senior profiles for key roles in marketing, sales and technology, and also to encourage and develop the skills of talented people already in the company.

Alexandre VELLUTI and Xavier GOMEZ, co-founders of INVYO, said: "This partnership with Accurafy4, Mandalore Partners, SideAngels and Inovexus is a tremendous accelerator for INVYO. We indeed have the ambition to become the leader in Europe, in particular with major investment players such as funds, VCs, family offices and investment banks in France as well as in Europe, which represent a 1.5 billion euro market."

Frédéric CARON, founder and managing partner of Accurafy4, commented: "We are very happy to support INVYO and have high ambitions for this very promising data player. Through our support, we will make our business development and marketing skills available to management, as well as our international network in the service of the platform, in order to accelerate growth over the next five years."

Minh Q. TRAN, founder and managing partner of Mandalore Partners, said: "Invyo will enable all asset management companies to be more effective in data analysis, particularly in impact investing. It was therefore natural for us as a leader in VC-as-a-Service to support this fine project."

Stanislas DE VILLELONGUE, Managing Partner of Inovexus, added: "It is a pleasure to be able to support Invyo in its development. This investment fits perfectly with our thesis given the company's European positioning, the quality of execution of the management team and the addressable market that we know well."

About INVYO

Europe's leading data management marketplace, INVYO is a leading technology solutions publisher-integrator, specialised in data processing and analysis. A unique, adaptable platform with a common technology core that evolves according to your business needs. Thanks to our exploration, control and visualisation modules, we transform "inaudible" data into concrete, qualified and contextualised information. We support all decision makers by building adaptable solutions that turn raw data into information.

We create an interface that adapts to each of our clients' businesses to make decision-making easier, whatever the sector. A new unique and adaptable model of data processing and analysis: a common technology core that evolves according to the business need.

About Accurafy4

Founded at the end of 2017 by French "serial entrepreneur-investors", Accurafy is an alternative investment fund registered in Luxembourg. Accurafy invests in start-ups characterised by proven innovations, a scalable business model and promising revenue traction, in particular in Fintech, Deeptech, Greentech, Sportech, etc. Accurafy offers its members compartmentalised club deals through its Accurafy 4 (A4) fund, thereby isolating risk and performance for each investment. In 2023, Accurafy launched its first closed-end fund, A4S ("Seed for Good") in order to invest in Seed and Impact deals. Accurafy differentiates itself through active, tailor-made operational support for executives and their teams, by mobilising various key areas of expertise from its network. To date, Accurafy has around one hundred investors, 22 million euros in assets under management, and around twenty investments made in 3 asset types: equity, real estate and green assets.

Accurafy is a fund deeply driven by its values: a passion for entrepreneurship, technology and CSR.

About Mandalore Partners

Mandalore Partners is a (Corporate) Venture Capital-as-a-Service firm for companies, family offices and growth businesses that want to de-risk their innovation programme with strategic and financial investments and impact measurement. We combine global sourcing based on artificial intelligence with a unique methodology ("asset-builder") to develop innovative technologies with corporates. With Insurtech Capital, our fund dedicated to Groupe Apicil, we invest in technologies around insurance, asset management and savings.

About Inovexus

Inovexus is the first entrepreneur-founded cross-border VC acceleration fund in Europe. Its objective is to finance and support the most promising start-ups through its acceleration programme and its many international mentors.

Inovexus invests through its investor club and funds in more than 50 transactions a year.

About SideAngels

SideAngels is the leading French platform for investing in start-ups through Club Deals, making it possible to invest alongside experienced business angels. Its exclusive club allows each investor to take part in entrepreneurial ventures by supporting and backing the finest stories.