Crédit Mutuel Arkéa Acquires Leetchi Group

▤ Summary

Leetchi Group, the Paris, France-based fintech company behind Mangopay, has been acquired by Crédit Mutuel Arkéa.The bank has acquired an 86% stake in the company and invested €10m into the Leetchi Group to boost growth.The investment will allow the Leetchi Group to launch leetchi.com in the UK in the first quarter of 2016, double its existing staff numbers over the next two years and accelerate product development for both brands.In 2013, the company founded Mangopay (opening a London office in January 2015) to process payments for marketplaces and crowdfunding platforms.Today, Mangopay services more than 700 clients across 22 countries and is due to open new offices across Europe, beginning with Barcelona and Berlin.

▦ Linked Companies

Mangopay

$10M to $25M