Context
Expanding its service offering for professionals is a key growth driver for Societe Generale French Retail Banking. With the acquisition of Shine, a leading French neobank for entrepreneurs and small businesses, Societe Generale confirms its ambition to significantly increase its French market share in this high-value and fast-growing market. It is now uniquely positioned with a leading digital offer combined with the expertise of its network of bank agencies and Professional Spaces.
Backed by reinforced resources, Shine will pursue its drive to acquire new customers while maintaining the independent and innovative spirit that has prevailed since its inception in 2017.
This acquisition will ultimately enable significant revenue synergies for both partners, with the offering of credit, insurance and payment products to Shine’s customers. This will accelerate and strengthen Societe Generale’s penetration of the professionals market, in which it aims to become the leader in France.
About Societe Generale
Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.
Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 138,000 members of staff in 62 countries and supports on a daily basis 29 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions.
Societe Generale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (World, Europe and Eurozone), four of the STOXX ESG Leaders indices, and the MSCI Low Carbon Leaders Index.
About Shine
Founded in 2017, Shine is a leading French neobank for professionals, small businesses and the self-employed. Its innovative positioning and the quality of its offer have enabled it to acquire nearly 50,000 customers since its inception. Much more than a bank, Shine is a 100% online services platform assisting and protecting entrepreneurs, allowing them to entirely focus on their businesses.
Shine raised nearly €11m from angel investors and from venture capital funds Daphni, Kima Ventures and XAnge. The company is headquartered in Paris and employs 55 people.
Bryan, Garnier & Co acts as Sole Financial Advisor to Societe Generale on its acquisition of Shine
Bryan, Garnier & Co acted as Sole Financial Advisor to Societe Generale.
Bryan, Garnier & Co assisted Societe Generale in providing valuation expertise and process intelligence, coordinating due diligence efforts and negotiating the transaction terms with Shine’s founders and shareholders.
This transaction continues to demonstrate Bryan, Garnier & Co’s growing expertise and track record in the fintech and financial services sectors. Notable other transactions include Hg’s investment in liquidity management solutions software smartTrade, the acquisition of independent debt collection specialist Recocash by IK Investment Partners and more recently, the acquisition of bank data aggregation Linxo by Crédit Agricole Payment Services.
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