Societe Generale to acquire French neobank ShineChristian Fernsby ▼ | July 1, 2020
Société Générale is set to acquire Shine, a French challenger banking service for freelancers and small businesses.
Shine Societe Generale
Topics: Societe Generale French Shine
The start-up’s co-founders will remain heads of Shine. Co-founder and CEO, Nicolas Reboud, says that the acquisition will see the fintech expand offerings around credit, insurance, and payments.
Société Générale’s French retail banking director, Marie-Christine Ducholet, says the start-up appealed to the bank because it fitted in to its “people and digital technology” mix.
The director also cites without going into any detail the potential open banking opportunities which could come out of the acquisition. ■