Funding

[Funding alert] Paris-based Pivot Secures €20 Million in Funding

Dec 13, 2023 | By Startup Rise EU

Paris-based Pivot secures €20 million in funding from its Longtime supporters such as Visionaries, Emblem, Anamcara and Oliver Samwer (co-founder of Rocket Internet), who have renewed their trust in the company.

Paris-based Pivot secures €20 million in funding from its Longtime supporters such as Visionaries, Emblem, Anamcara and Oliver Samwer (co-founder of Rocket Internet), who have renewed their trust in the company.

Pivot finished two rounds of funding in just six months, despite the fact that investors have become more picky and the market is characterised by uncertainty. They launched a €5 million pre-seed in just two months.

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Romain Libeau, Co-founder and CEO of Pivot said, “The procurement market is still dominated by complex solutions created by the industry giants in the 90s. However, these tools are at odds with the expectations of today’s users, who are looking for intuitive interfaces and ready-to-use solutions. Our ambition is to provide companies with an innovative tool that will enable them to take full advantage of purchasing as a powerful driver of profitability. The trust placed in us by our customers and investors confirms that we are moving in the right direction,”.

Robert Lacher, Founding Partner of Visionaries secures “If we chose to reinvest in Pivot so quickly, it’s because we were impressed by the team’s speed of execution, both commercially and in terms of product development. We are convinced that this dynamic is a major asset for Pivot in its ambition to win the battle against the procurement giants. Pivot offers a unique response to a problem we witness in any of our LPs companies – no matter if a digital scaleup or an industrial world market leader – in a context of drastic cost-cutting. We’re looking forward to continuing this adventure alongside them,”.

About Pivot

Pivot, established in 2023 by former C-Level managers from Qonto and Swile, two French startups, seeks to destroy and dominate the procurement industry.

Read also - Metz-based i-Virtual Secures €3 Million in Funding

With the help of this round of funding, the business will be able to grow more quickly and offer its ground-breaking P2P technology throughout various European nations. Pivot has already won over a dozen top European firms in a few of months.

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