The acquisition enables Orange Bank to address the professionals and small business market
Orange Bank has acquired Anytime, a French neobank that caters to independent professionals, small businesses, and associations, for an undisclosed price.
Established in 2014 by Damien Dupouy and Thierry Peyre, Anytime provides fully digital and mobile-compatible business accounts.
Its offerings to small businesses include payment solutions and expense management tools.
Anytime’s platform allows its customers create quotes and invoices, get automatic account updates, and also make payments through a mobile or credit card. Besides, the platform enables the businesses to manage unpaid invoices and streamline cash flow.
Orange Bank, which is a French online bank, said that the acquisition enables it to address the professionals and small business market. Launched three years ago, Orange Bank is a subsidiary of subsidiary of telecommunications operator Orange and mutual insurer Groupama.
Orange Bank CEO Paul de Leusse said: “Anytime’s entry into the Orange Bank family marks a new development opportunity for us in a high-value market segment while establishing strong synergies with Orange Bank and Orange.”
Anytime expected to benefit from Orange brand
Anytime, by becoming a fully-owned subsidiary of Orange Bank, is expected to benefit from the strength of the Orange brand among small and medium-sized enterprises (SMEs) and small offices/home offices (SOHOs).
This will enable the neobank to scale-up its commercial presence and improve its variety of solutions for professionals, said Orange Bank.
Anytime’s offerings are planned to be extended gradually to other Orange channels, starting in France. The services will also be introduced across Orange Bank’s other European operations.
Damien Dupouy and Thierry Peyre said: “We’re happy and proud to join the Orange group. This latest development recognises the strength of the Anytime business model, the first business-focused neobank to be profitable since 2018.
“This merger with Orange Bank will enable us to offer a greater range of business services (loans, insurance, payments, expert advice etc) and benefit from the powerful Orange brand.”