French B2B growth platform reveals nets of $50 million
Reveal, a French company that works with B2B systems to generate revenue through business-to-business partnerships, raised $50 million in a Series A funding round, according to a company blog post from the CEO. Simon Bouchez.
Bouchez said this round of funding will help propel the company forward in its work to “enable B2B companies to generate revenue from their ecosystem.” The letter also stated that the company’s goal was to foster business partnerships because “sharing is winning.”
According to the company’s website, its technology allows B2B partners to easily connect their customer relationship management (CRM) software to their ecosystem, allowing them to find all common accounts and streamline collaboration.
“In a world where referrals are the highest converting channel, converting 21 times better than an outbound call, the need to build and leverage a strong partner ecosystem simply cannot be ignored,” wrote Bouchez, adding that partnership costs are low compared to using old marketing channels.
Bouchez noted that due to the current global climate, there is a “responsibility” the company now has with funding.
“We don’t see this as a success in itself, as much as we see it as motivation and a resource to double down on our mission,” Bouchez wrote. “And we won’t lose sight of it.”
In other news related to B2B partnerships, Skaleet, a FinTech working on core banking platforms, recently announced that it is partnering with Thunes, a cross-border payment provider, to boost its ecosystem.
Read more: French fintech Skaleet partners with cross-border payments provider Thunes
In a press release, Skaleet noted that French residents send nearly 13 billion euros abroad, according to data from the European Central Bank. The money transfer market has generally been occupied by cash transactions, although digital transfers have become more prominent.
Skaleet’s services involve letting financial institutions launch new banking products, while Thunes works in instant payments, enabling businesses to make payments in many areas with many currencies.
Thunes’ platform allows players to connect globally using a single application programming interface (API) and provides things like peer-to-peer money transfers (P2P), bulk payments and commercial payments.