Treezor celebrates 5 years
The fintech acquired by the Group marks a new stage in its development.
Founded in 2016 and acquired in 2019 by Societe Generale, Treezor is the French leader in Banking-as-a-Service (BaaS). Treezor provides a digital API-based platform, allowing other fintechs such as Qonto, Lydia, Swile or Shine to have access to banking services. These new players do not have the time or resources to create such an offer from scratch. Thanks to Treezor, they can offer their customers services integrating KYC, payment, cards and flow transactions in order to simplify payments, open new uses and optimize the customer journey.
As the number of fintechs explodes in France (735 companies to date), Treezor has reached a new milestone, with more than 2 million Mastercard cards distributed and a transaction volume of 25 billion euros. More than 100 corporate customers trust Treezor across more than 25 countries.
For Eric Lassus, co-founder and CEO of Treezor, “this strong growth is accompanied by a continuous improvement of our services with a strong ambition, becoming the first European marketplace for financial services”.
With five years of service to French fintechs, Treezor is now implementing its international development plan with new offices in Germany, Belgium, Spain and Italy.
The decisive role of Societe Generale
The Group’s strike force is decisive for Treezor’s international development.
Societe Generale is keen to preserve Treezor’s DNA and autonomy, while bringing its expertise (in credit, insurance, but also compliance, etc.) to create a bespoke offer from BaaS at the highest level of compliance: a differentiating factor for Treezor versus competitors.
But Treezor also supports the Group’s digital transformation, as it builds some of its services on Treezor’s technology. Thus, the young Banxup offering, and other fintechs acquired by the Group (Lumo, Shine) rely on the Treezor platform to develop their services.
A fruitful collaboration for the Group as well as for Treezor, bringing now capabilities and a new model in the BaaS integrated finance area.
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* Banking-as-a-Service (BaaS): ecosystem where financial institutions with agreement provide access to their services to non-financial companies, via APIs.