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iBanFirst provides a cross-border payment platform for small and medium-sized businesses operating internationally, enabling them to hold, collect, and send funds in over 25 currencies, headquartered in Brussels, Belgium. The company serves over 10,000 clients worldwide, processing over €2.5 billion monthly in transactions and managing £350 million in client balances. It reported €65 million in revenue in 2024, with an annual transaction volume of £22 billion. With over 350 employees across 14 offices in 12 European countries, iBanFirst has raised a total of €200 million in funding. Major investors include Bpifrance, Elaia Partners, and Marlin Equity Partners. Founded in 2013 by Pierre-Antoine Dusoulier, who also serves as CEO and previously led Saxo Bank France, the organization's leadership also includes Deputy-CEO Sonia Boudier.
iBanFirst has raised $55.0M across 3 funding rounds.
iBanFirst has raised $55.0M in total across 3 funding rounds.
iBanFirst is a fintech company providing cross-border payment solutions and currency risk management for small and medium-sized enterprises (SMEs) engaged in international trade.[1][2][3] Its platform enables businesses to manage multi-currency accounts, execute payments across 180+ countries, track transactions in real time, and implement hedging strategies against exchange rate fluctuations, with recent additions like the AI-powered iBanPay invoice assistant automating invoice processing for UK users.[1][4][7] Serving over 10,000 clients worldwide, iBanFirst processes more than €2 billion in transactions monthly, employs 350+ staff across 10 European countries, and has achieved profitability while targeting €100m ARR, backed by investors including bpiFrance, Elaia, Xavier Niel, and Marlin Equity Partners.[2][4][5]
Founded in 2013 in Brussels, Belgium (formerly FX4Biz), iBanFirst was established by Pierre-Antoine Dusoulier, former CEO of Saxo Bank, to address inefficiencies in international payments for SMEs underserved by traditional banks.[1][3][5] The idea emerged from Dusoulier's experience in foreign exchange, aiming to combine technology with FX expertise for seamless cross-border transactions.[2][3] Early traction came from regulatory licensing by the National Bank of Belgium, enabling EU-wide operations as a SWIFT and SEPA member with PSD2 accreditations, followed by rapid expansion including offices in Paris (HQ), Amsterdam, Antwerp, Berlin, Brussels, and Dijon, and raising over €51 million (up to €200 million total per some reports).[2][3][9] Pivotal moments include breaking away from heavy VC reliance in 2021 to focus on profitability and recent innovations like iBanPay.[5][7]
iBanFirst rides the fintech wave of digitalizing cross-border payments, fueled by globalization, e-commerce growth, and SMEs' need for bank alternatives amid rising trade volumes and currency volatility.[1][2][4] Timing aligns with PSD2/EMIR regulations enabling open banking, AI automation in finance, and post-Brexit/UK expansion (e.g., new FCA EMI license and iBanPay UK launch), positioning it against competitors like Airwallex, Verto, and Currenxie.[1][5][7] Market forces favoring it include producer inflation, AI-driven efficiencies, and demand for non-speculative FX tools, influencing the ecosystem by empowering SMEs with Fortune 500-level access, boosting international trade agility, and setting standards for transparent, tech-led payments in Europe.[4][7][8]
iBanFirst is poised for accelerated growth through AI enhancements like expanded iBanPay features (e.g., optimal currency/timing selection) and UK scaling via its FCA EMI license, potentially hitting €100m ARR soon while maintaining profitability.[5][7] Trends shaping its path include AI redefining payments, rising SME globalization, and regulatory tailwinds for embedded finance, evolving its influence from payments leader to comprehensive CFO "cockpit" for international operations.[5][7][8] As cross-border trade intensifies, iBanFirst's blend of tech, expertise, and trust will solidify its role as the go-to platform, transforming SMEs' financial operations worldwide.[2][6]
iBanFirst has raised $55.0M across 3 funding rounds. Most recently, it raised $24.0M Series C in June 2020.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2020 | $24M Series C | Elaia Partners, Bpifrance | Breega, Cyberstarts VC, Digital Horizon VC, General Catalyst, Index Ventures, Insight Partners, Iris Capital, Kima Ventures, Outrun Ventures, Pario Ventures, Partech Ventures, RED DOT Capital Partners, Sequoia Capital, Sonorcap, Brian O'kelley, Franck LE Ouay, IAN Hogarth, Jean Baptiste Rudelle, Rakesh K. Loonkar, ROB Dobson, Romain Niccoli, Zohar Zisapel, Serena Capital | Announced |
| Nov 1, 2018 | $19M Series B | — | Breega, Digital Horizon VC, Index Ventures, Kima Ventures, Outrun Ventures, Pario Ventures, Franck LE Ouay, IAN Hogarth, Jean Baptiste Rudelle, ROB Dobson, Romain Niccoli, Xavier Niel, Serena Capital | Announced |
| Oct 1, 2016 | $12M Series A | — | Index Ventures, Kima Ventures, Franck LE Ouay, Jean Baptiste Rudelle, Romain Niccoli, Xavier Niel | Announced |
iBanFirst has raised $55.0M in total across 3 funding rounds.
iBanFirst's investors include Elaia Partners, Bpifrance, Breega, Cyberstarts VC, Digital Horizon VC, General Catalyst, Index Ventures, Insight Partners, Iris Capital, Kima Ventures, Outrun Ventures, Pario Ventures.
