Obat, a Nantes, France-based fintech company specializing in online estimating and invoicing software for building and civil engineering professionals, has raised €12 million in a Series A funding round.
SaaS Investors
The funding round was backed by investors including Crédit Mutuel Innovation, NewAlpha Asset Management, NCI, and Kima Ventures, along with historical investors Truffle Capital, Evolem, and Holnest.
Founded in 2003, Credit Mutuel Innovation is a venture capital firm based in Paris, France. The firm prefers to invest in technology-oriented industries such as information technology, telecom, electronics, life sciences, environment, and new materials sectors, as well as digital companies.
NewAlpha Asset Management is a provider of investment advisory services designed to offer customized investment solutions and services. The company specializes in seeding, funds of hedge funds, acceleration deals, french tech, venture capital, absolute return, and other related services, thereby helping leading institutional investors with equity multi-management, absolute return multi-management, and private equity.
NCI invests skills and equity in projects for the creation, development, and transmission of businesses. With €320 million under management, NCI combines finance and economic development in a region. Founded in 1999 and is headquartered in Rouen, France.
Founded in 2010, Kima Ventures is a venture capital firm based in Paris, France. The firm seeks to invest in companies operating in the hardware, robotics, e-commerce, SaaS, marketplace, marketing, ad tech, big data, sharing economy, entertainment, finance, education, media, mobile, security, social, travel, tourism, health, retail, industry, API, food, agrotech, lifestyle, cleantech, and gaming sectors.
Obat Use of Funds
The company will use the fund to further fuel its ambition to become the reference platform for construction artisans and plans to recruit 50 additional employees.
About Obat
Founded in 2019 by Franck Asseray and Florent Liagre, Obat has developed a SaaS solution designed to streamline the daily operations of VSEs and SMEs in the construction industry, allowing tradespeople to manage quotes, invoices, worksites, margins, and overall financial health more efficiently. To date, the French company has 15,000 active customers (entrepreneurs, craftsmen, and business leaders) in France, Belgium and Switzerland.
Funding Details
Company: Obat SAS
Raised: €12.0M
Round: Series A
Funding Month: November 2023
Lead Investors: Crédit Mutuel Innovation, NewAlpha Asset Management, NCI, and Kima Ventures
Additional Investors: Truffle Capital, Evolem, and Holnest
Company Website: https://www.obat.fr/
Software Category: Billing & Invoicing Software
Source: https://www.maddyness.com/2023/11/23/obat-leve-12-millions-deuros-pour-simplifier-la-vie-des-professionnels-du-btp/