“Pennylane, Qonto, Agicap, Pleo, and Mollie all share a common thread—utilizing Chift in various capacities to streamline integrations with diverse financial tools. This burgeoning startup from Belgium has recently secured a €2.3 million seed round ($2.5 million) in funding.
In the realm of fintech, startups heavily rely on integrations to harmonize their products with clients’ financial infrastructure. Often, they end up creating numerous connectors and partner integrations to ensure consistency in financial data across multiple platforms. With the expansion of their integration ecosystem, they may turn to an iPaaS provider (integration platform-as-a-service) for support.
Chift functions as a third-party integration specialist, akin to Codat in the U.K. and Merge in the U.S. Instead of crafting connectors individually, Chift offers a suite of unified APIs compatible with leading financial tools. For instance, its accounting API seamlessly integrates with renowned French accounting software like Sage, Cegid, and Pennylane. Additionally, Chift has developed integrations for invoicing tools, e-commerce platforms, and point-of-sale software.
The startup’s initial focus is on financial tools due to their data-generating nature. According to Gauthier Henroz, co-founder, and CEO, Chift aims to simplify the integration process for SaaS companies dealing with varied financial systems prevalent across European countries.
As Chift’s clientele expands, it can introduce more connectors, benefiting all users with enhanced integrations. This strategy not only fortifies Chift’s position but also acts as a barrier for new entrants.
In navigating the intricacies of Europe’s diverse financial landscape, Chift enables its clients to unlock new markets and upsell services, fostering long-term partnerships. By managing integrations and updates, Chift allows SaaS firms to concentrate on refining their core products.
Notable investors in Chift’s seed round include Entourage, Shapers, Seeder Fund, and several business angels. Henroz envisions Chift as the premier integration solution provider in Europe, poised to lead the market with its innovative approach.”