Context

Founded by Yves Eonnet and Hervé Manceron, TagPay provides a cost-efficient, next-gen core banking system to financial institutions. The company’s product transforms once costly and inefficient legacy systems into scalable, open-architecture platforms that allow financial institutions to innovate and improve customer experience. Since its launch in 2016, nearly twenty financial institutions – including top-tier European banks – now use TagPay to power their digitization.

TagPay, which had previously raised EUR 7m, has secured an investment of EUR 25m from Long Arc Capital to strengthen its sales, product and technical teams and to fund growth. By 2023, TagPay seeks to double its banking customer base while multiplying by five the number of end customers it provides with secure digital banking services. In this new phase of growth, Société Générale remains a minority shareholder and a longstanding partner, reaffirming its trust in TagPay and its continuing support to the management team.

"Evolving regulations and customer expectations and the disruption in financial services makes the modernization of core banking systems a necessity,” said Yves Eonnet, CEO of TagPay. “Today, thanks to its open and agile architecture system, TagPay is the premier solution to address these challenges. We are very happy to have the support of Long Arc Capital, whose financial and operational support will allow us to grow rapidly over the next three years.”

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About TagPay

TagPay is a French company that provides digital, scalable and open core banking systems.

With 20 financial institutions as clients and more than seven million accounts, the company aims to support the digital transformation taking place in the financial sector. Thanks to its next-generation core banking system, TagPay enables traditional players as well as new market entrants to focus on building their offerings and distributing their products.

Founded in 2005 by Yves Eonnet and Hervé Manceron, the company is based in Boulogne-Billancourt and has 35 employees.

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About Long Arc Capital

Long Arc Capital is a private equity firm based in New York City dedicated to building and scaling breakthrough technology and technology-enabled businesses. Founded in 2016, Long Arc has six Partners collectively with over 150 years of investing and operating experience. The firm has a philosophy of "active ownership", partnering with entrepreneurs and management teams bringing to bear a comprehensive suite of resources that advance the human capital, strategic, product development, technology, and financial strengths of its portfolio companies, successfully driving their profitable growth.

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Stanislas De Gmeline

Investment Banking

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Thibaut De Smedt

Investment Banking

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Charlie Pujo

Investment Banking

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Paul Wertheimer

Investment Banking

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