As one of the leaders in the French market for online financial services, Nalo welcomes Groupe APICIL as its new reference shareholder. This operation was organized by Mandalore Partners, and will accelerate Nalo’s growth and its standing on the market for digital savings solutions.
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Fintech Nalo announces a sale of securities as well as a capital increase in partnership with Groupe APICIL
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This operation unfolded with the help and consulting of Mandalore Partners, a Corporate-Venture-as-a-Service asset manager which specializes in digital innovation in the field of savings plans and insurance.
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This new financing will allow independent growth and development on the side of Nalo, and will thus enable the company to further fulfill its mission, which consists in enabling all private individuals to invest, so that they can fund every single one of their projects.
Paris, April 21st 2023
Nalo just settled a new funding operation, which will insure sustained growth and enable the company to assert its importance on the French market for savings solutions.
The operation was lead by Mandalore Partners, an asset management firm specialized in Venture Capital-as-a-Service in the field of insurance and savings. The outcome of this new funding operation will consist in the third biggest social insurance group in France, Groupe APICIL, becoming Nalo’s new majority shareholder, while the rest of the capital is dispatched with members of the management team.
This operation takes place in the aftermath of two fundraising rounds, in 2018 and 2020, with its main goal being to fund the continued development of Nalo’s business activities and the growth of its assets under management while preserving the start-up’s independence and full structural and operational autonomy in striving to reach these goals.
Numa Jequier, the CEO of Nalo, reported that the company is “thrilled to welcome Groupe APICIL as a shareholder. This funding round will also keep nurturing the specific strengths that have made us successful as a company since 2018, while benefiting from the support of Apicil’s solid and long-lasting reputation. We share the vision and innovative spirit, with Nalo’s mission staying the exact same : we want to revolutionize the savings ecosystem by creating a digital platform which will enable every French person to invest securely in every one of their projects, while knowing that they benefit from the very best customer experience and customer care, from very competitive fees and from tailor-made financial advisory services.”
Eric Rosenthal, Vice-General Director of the Savings and Financial Services Department at Groupe APICIL, says that the group was “impressed by the unique project behind Nalo, and by the long way that the start-up has come since it was created. Nalo already benefits from a strong positioning in a growing market, as well as from a distinctive brand and very competent team.”
Mandalore Partners has steered this operation and will keep consulting Nalo and the Groupe APICIL in the context of this project. Minh Q. Tran, the Managing Partner at Mandalore, says that their goal is to “expand Nalo’s AUM up to over one billion euros by bringing the start-up’s unique value proposition to the many savers that do not yet have access to such dynamic and custom-made savings and investments.”
Nalo’s roadmap in the upcoming months revolves around the strengthening of every department at the company (investments, product, technology, financial services and marketing), around the improvement of the customer experience and the assertion of the brand’s name, accompanied by an expanded product line.
Digital savings investment solutions are a highly-growing market
The savings market represented 5700 billion euros in Q3 2022 in France, despite the unfavorable and unstable economic context, notably characterized by high inflation. Financial products like the French PER (retirement savings plan) get a lot of enthusiasm from the public, a total of 70 billion euros having already been invested in such PERs in only 3 years. The French increasingly trust digital savings solutions, as shown by how dynamic operations in the field of digital savings solutions are : the public is attracted to solutions allowing for a simple and transparent investment process, which also allows for control over associated fees.
Market leader Nalo is aiming for an expansion of its client base
Nalo is a French fintech start-up which specialized in digital and automated asset management and consulting. It launched in 2018 with an innovative product combining a unique multi-investment technology (Multiprojets©) and progressive, tailor-made asset allocation and securitization, without the need to have users choose between different risk profiles.
Its ambitious plan revolves around a rapid assertion as one of the leaders in the French online savings industry : they already have over 400M AUM in 2022 between its life insurance and retirement savings plans. With regards to the average performance of such products between 2018 and 2021, Nalo’s results really distinguish themselves, especially so on their standard life insurance portfolio. The company also makes its mark by offering an alternative, responsibility and ESG themed portfolio which was selected by over half of its clients.
The Nalo team was awarded the TOP d’OR Award for the best online life-insurance savings plan as well as the Agefi Coupoles “Education Financière” (financial education award), making it a widely renown stakeholder in the French market.
List of the parties involved
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Seller : NALO
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Buyer : Groupe APICIL
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Buyer’s Counsel : Mandalore Partners
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Buyer’s Legal Counsel : Lawways
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Seller’s M&A Counsel : Largillière Finance
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Seller’s Legal Counsel : Yards
About Nalo
Nalo is one of the French market leaders in online savings and financial consulting services, and pioneered goal-based savings plans. Since it was founded in 2018, it made it its mission to enable individuals to invest effortlessly and without it being a cause for worry, so that everyone could finance their retirement, real estate investment, inheritance building and any other project.
Nalo leverage the combination of technology and human skill to offer tailor-made asset and wealth management that is adapted to each client’s specific situation and project without them needing to match any pre-set profiles, and at minimal cost. In addition to this digital service, the Nalo team, which is made of former Private Banking professionals, provides individualized consulting and financial services to every client.
To learn more : www.nalo.fr and @Nalo_fr
About Groupe APICIL
Groupe APICIL is the third biggest social insurance provider in France, with over 3.3 billion euros of revenue per year. It offers a wide variety of high-performing insurance solutions in the fields of health insurance, savings, financial services as well as individual and corporate retirement plans. The group has over 2180 associates, which provide expertise to over 51 500 insured corporations and 1.8million insured individuals. Cooperation and equality are at the core of the group’s attentive services, focused on providing individualized care at each and every step of the insured clients’ lives. The grouping also takes a committed approach to the enforcement of ESG values, and more particularly social inclusion.
More information is available on the group’s website as well as on Twitter @GroupeApicil.
About Mandalore Partners
Mandalore Partners is an asset manager which specializes in Corporate Venture Capital as a service for corporates, family officers and high growth businesses who which to de-risk their innovation programs with strategic investments, all the while being sure that they make a positive environmental and social impact. Mandalore combines global, AI-based sourcing and a unique asset-builder methodology to develop innovating, state-of-art technology by the side of corporates. It invests in solutions in the field of insurance, asset management, and savings solutions.
To learn more : www.mandalorepartners.com and @Mandalore_Minh
Contact : [email protected]rtners.com
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