IbanFirst

TLDR

IbanFirst is a Brussels-based cross-border payments and FX platform for SMEs, with EUR 200M in total funding, EUR 65M in 2024 revenues, and its first full year of profitability in 2024.

Overview

Founded in 2013 in Brussels by Pierre-Antoine Dusoulier, IbanFirst provides SMEs with multi-currency accounts, real-time international payment tracking, and FX risk management tools that simplify cross-border business finance. The platform positions between a traditional bank and a Fintech payment provider, offering competitive exchange rates and IBAN accounts in multiple currencies that businesses can open in minutes.

In May 2021, US private equity firm Marlin Equity Partners acquired a 51% stake in a transaction that valued IbanFirst at EUR 200M, with co-investment from Bpifrance and Elaia Partners. The company has since grown to near-EUR 100M ARR, with EUR 65M in 2024 revenues representing 30% year-on-year growth. 2024 was IbanFirst's first full year of EBITDA profitability (EUR 7M), a milestone the company reached without dependency on continued equity injections.

IbanFirst competes with Wise Business, Airwallex, and Equals Money in the international SME payments market, with a particular focus on European export-oriented businesses.

Funding History

• Multiple early rounds totaling approx. EUR 30M
• May 2021: Growth round at EUR 200M valuation, led by Marlin Equity Partners (51% stake), with Bpifrance and Elaia Partners

Key People

• Pierre-Antoine Dusoulier - Founder and CEO