Société Générale is set to acquire Shine, a French challenger banking service for freelancers and small businesses. The size of the acquisition is currently unconfirmed. TechCrunch reports an all-cash deal of around €100 million ($112.6 million) but has since updated its report to say Société Générale has disputed this price.
Shine offers business-tailored accounts and debit cards. French customers can create invoices directly from the app and send payment links to clients. Invoices then get automatically marked as paid in the app. Receipts are attached to transactions, keeping accounting information in the app. Automatic receipt exports are also an option in the app. Users can also set up notification reminders to pay taxes and see how much money will be left over.
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Société Générale to acquire French neobank Shine - FinTech Futures
Société Générale is set to acquire 2018-founded Shine, a French challenger banking service for freelancers and small businesses.
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