Successful first funding round for Pledger, specialist in wealth-backed credit for all
Pledger announces the success of its first 1 million euro funding round, completed in particular with Mandalore Partners. The fintech makes wealth-backed credit accessible from 20,000 euros in financial assets and relies on partnerships with BNPP PF, Monabanq, Santander and Apicil.
3 min read
Paris, 4 July 2023 - Pledger is shaking up the world of credit with its unique wealth-backed credit platform, a product previously reserved for the wealthiest people in France. The fintech aims to become the European leader in credit secured by savings. In support of that ambition, the company announces the success of its first 1 million euro funding round, completed in particular with Mandalore Partners.
The technology solution developed by Pledger makes wealth-backed credit accessible to anyone with at least 20,000 euros in financial assets. By pledging their savings as collateral for a loan through fully digital journeys, clients benefit from credit at a competitive rate (20% lower on average) and more flexible lending conditions (in the current context, 45% of loan applications are refused).
Thanks to its strategic partnerships with well-known banking institutions (BNPP PF, Monabanq, Santander) and insurance institutions (Apicil), Pledger offers its clients a unique approach to wealth-backed credit. For Jonathan Benharrous, Head of Development at INTENCIAL Patrimoine, a brand of Groupe APICIL: "This wealth-backed credit offering comes at just the right time for our CGP partners and our clients. We are delighted with this partnership with Pledger, whose technology solution meets the market's new expectations: digital, agile, flexible and timely."
Wealth management advisors (CGPs) have also welcomed Pledger's services, seeing the opportunity to better serve their clients by providing them with flexible, competitive financing solutions for their real estate projects, their investments or their cash needs.
By announcing the success of its first funding round, of one million euros, with the support in particular of Mandalore Partners, Pledger is ready to accelerate its development and offer innovative wealth-backed credit services to a growing number of clients. It intends to broaden its partnerships with life insurance distributors and take securities accounts, PEAs and PEEs as collateral, with the goal by the end of the year of exceeding 10 million euros in financing flowing through its platform.
Minh Q. Tran, founder of Mandalore Partners, says: "The innovation of the solution on the French market, the first partnerships with lending banks and holders of life insurance assets such as Groupe Apicil, as well as the market potential, naturally led us to provide financial support to Pledger."
"We are extremely proud of the success of this funding round, which reflects the confidence our investors have placed in our vision and in our intergenerational team," say Pledger's executives.
About Pledger: Founded in 2022, Pledger is the result of an intergenerational and expert team, including Renaud Sassi, former Chief Executive Officer of Banque Carrefour, and Thomas Breitenstein and Adrien de Forceville, two young École Polytechnique graduates.
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 programmes 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.
https://www.mandalorepartners.com/
Press contacts:
Pledger: presse@actifin.fr
Mandalore Partners: press@mandalorepartners.com, +33 6 22 26 30 97