French fintech startup Compte Nickel was obtained by French lender BNP Paribas yesterday. I could not nail down the price tag but I have listened to that it was rather significant.
Compte Nickel was a person of the primary fintech startups in France. You can open up the equal of a latest lender account in countless numbers of tobacco shops in just a several minutes. Compte Nickel offers you an IBAN and a MasterCard for €20 for each 12 months.
This is rather distinctive from the common banking encounter in France as you normally have to make an appointment and chat with a lender supervisor to open up an account. Even for on line banks, you have to indicator distinctive files and wait a several days.
With this seamless onboarding encounter, Compte Nickel managed to appeal to more than five hundred,000 clients. It’s not always more cost-effective but it is lifeless straightforward.
BNP Paribas will keep functioning the company and is aiming for 2 thousands and thousands clients just before 2020. BNP Paribas operates its personal electronic-1st retail lender termed Howdy Lender. It performs pretty considerably like a standard BNP Paribas account with a distinctive symbol, and doesn’t definitely innovate in this house. BNP Paribas could use Compte Nickel’s talent to do the job on new electronic tasks in the long run.
Even though Compte Nickel required to revolutionize retail banks, the startup obtained obtained just before it could develop into a significant contender on the French industry. It makes you ponder whether or not fintech startups are likely to disrupt classic banks or just get obtained just before then. Banking companies have deep pockets, following all.