Paris, 31 May 2023 – Linxea Finance Group (“the Group”), Linxea.com (“Linxea”) and Irbis solutions —supported by NextStage AM and M3I (“Matignon Investissement”) since 2015, are welcoming new investment from IK Partners (“IK”) to launch a new phase of accelerated development. The transaction is subject to the approval of the AMF, the French financial markets regulator.
Over the past 20 years, Linxea has established itself as the leading independent online platform for the distribution of savings products in France. Since 2015, under the leadership of Antoine Delon and Yves Conan, Linxea has seen very strong growth with the support of NextStage AM and MI3. During this time, the platform has seen its client base grow from 20,000 to 90,000 as well as an increase in its assets under management from €800 million to €2.8 billion. Against the backdrop of a challenging macro-economic environment, the results for 2022, which included a record inflow of €600 million and over 20,000 new customers, are evidence of the solidity and relevance of the platform developed by the Linxea teams.
Irbis has also established itself as a French leader in the design of structured products distributed through a network of financial advisors, private banks and institutions. Since it deals with a growing asset class, 2022 was a busy year for the Irbis team. Generating over €1 billion in revenue, the team used its extensive digital skills to strengthen the range of services offered and develop new features for the Irbis Map tool.
The addition of IK to the shareholder base marks a new phase in the Group’s journey. Since 2015, the Group has digitalised all its processes under the leadership of Tiphaine de Labarre, Chief Product Officer and going forward, it aims to continuously improve the platform and offer new services, while also strengthening its teams. To support these efforts, the Group hired three new recruits at the beginning of the year: Vincent Riffier, Michaël Turjeman and Sébastien Raphanaud who hold the roles of Chief Technology Officer, Director of Operations and Director of the Asset Management Division respectively.
This added investment is also an opportunity for Antoine and Yves to reinforce the Group’s Management Committee which has recently seen the addition of three General Managers: Stanislas de Vasselot as Chief Financial Officer, Clément Lemaire as Deputy Chief Executive Officer of Irbis and Diane Larramendy as Chief Operations Officer who will be overseeing the Group’s digital development.
“We are proud to have succeeded in our ambition of becoming a leader in the distribution of online savings products since our acquisition in 2015. Our well-established track record in financial products has enabled us to consolidate the platform’s historical value proposition — the most diverse offering at the lowest price — and focus on providing the best digital customer experience for our users, thanks to a team of excellent managers. None of this would have been possible without the support of our financial shareholders, NextStage AM and M3I, who showed confidence in us during this initial development phase. The arrival of IK at the table signifies the beginning of a new stage in the history of the Group and we are excited to see what the next few years will bring”, said Antoine Delon, Co-Chair of the Linxea-Irbis Group along with Yves Conan.
“This strategic move provides an opportunity for us to recognise the progress made by the teams across the Group, particularly Antoine and Yves since 2015. Today, Linxea is in the best position to transform the savings market. The potential for innovation and a successful outcome is what convinced us to invest in the company in the first place and make it a key part of our platform. The success of Irbis’s offering is also proof of the fundamental transformation the Group has undergone in terms of its the savings product range and we are delighted to welcome IK to help us accelerate the Group’s development in a market that has, so far, only experienced the start of what will be a profound and lasting disruption,” added Jean-David Haas, Co-Founder of NextStage AM.
“We have been thoroughly impressed with the Group’s journey to date, especially in the way in which it has led the market in terms of offering innovative solutions which capitalise on market disruption. We are delighted at the level of confidence bestowed upon us by the Group’s management team as well as shareholders and we look forward to working with them to actively contribute to its continued development,” concluded Pierre Gallix, Managing Partner at IK and Advisor to the IK Small Cap III Fund.
Those involved in the operation:
Irbis Finance: Antoine Delon, Yves Conan, Stanislas de Vasselot, Clément Lemaire, Diane Larramendy
NextStage AM: Jean-David Haas, Arthur Vignéras, Marie-Pauline Noël
MI3: Christian Haas, Jérôme Dhamelincourt
IK Partners: Pierre Galix, Thibaut Richard, Florent Labiale, Paola Ismail
Cambon Partners (M&A Company): David Salabi, Nicolas Pirot, Victor Simal Aldéa, Alexandre Cuignet
Joffe et Associés (consulting firm): Thomas Saltiel, Camille Malbezin, Clémence Bressolin, Virginie Davion, Ayméric Dégremont
8 Advisory (VDD Finance): Emmanuel Riou, Alexandre Bengougam
Jeausserand-Audouard (management consultants): Ronan Lajoux, Patrick Loiseau
FIG Partners (M&A buy-side): Christophe Muyard
Winston & Strawn LLP (Buy-side legal advisors): Grine Lahreche, Audrey Szultz, Vincent Bourelly
Exelmans (Financial DD): Stéphane Dahan, Eric Chan, Océane Lambert
Ares&Co (Commercial DD) : Giovanni di Francesco, Thomas André
Singulier (Product & Tech DD): Claire-Marie Faucheux
KPMG: Florence Olivier et David Guiet (Legal DD), Albane Eglinger (Social DD), Vincent Maurel (Regulatory DD), Cédric Philibert (Tax DD)
NextStage AM: Jonathan Boudin – email@example.com – +33 (0)1 44 29 99 04
Shan: Laurence Tovi – firstname.lastname@example.org – +33 (0)6 20 58 29 02 / Lola Gozlan – email@example.com – +33 (0)1 42 86 82 47 / Anne-Laure Daulier – firstname.lastname@example.org – +33 (0)6 28 59 50 38
IK Partners: Vidya Verlkumar – email@example.com – +44 7787 558 193