Societe Generale acquires neobank for entrepreneurs

Both companies aim to support entrepreneurs in their growth

Societe Generale

Societe Generale acquires neobank for entrepreneurs. Source: unsplash.com

Societe Generale has announced the acquisition of French-based startup Shine for nearly €100 million.

Shine enables its customers to create business accounts, get a debit card, and carry out administrative tasks like invoicing, calculation of charges, accounting simplification.

According to information, the bank will operate independently from Societe Generale, although both companies will jointly promote their proposals.

As to the major features, Shine helps businesses incorporate a company and create invoices right from the app. After they send a link to a client, they get notified when the client opens the invoice.

The invoices are automatically marked as paid in the app as the invoicing tool is integrated with business bank accounts.

We’ve reported that entrepreneurs who are running businesses from an outbuilding or garden shed are contributing almost £17 billion to the UK economy.

SEE ALSO: