Tinubu Square, an enterprise software solutions provider to credit and surety insurers, has raised €15m ($16.2m) capital investment.
The capital investment was made by the company’s existing investors Long Arc Capital, which is based in New York, and French investment bank Bpifrance.
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Tinubu Square launched a five-year strategic plan to foray its footprint in global markets in 2018.
Using the capital, it intends to target high growth international markets for credit insurance and surety software.
Tinubu Square CEO Jerome Peze said: “The early results of our five-year plan have already been extremely successful.
“In just two years, we have more than doubled our annual recurring software revenue.”
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By GlobalDataTinubu Square deputy CEO Olivier Placca added: “We have a clear vision of what we need to do to achieve our goals over the next three years.
“Our teams, our shareholders and our partners are all aligned and committed to our mission.”
Long Arc Capital and Bpifrance invested €53m ($57.4m) in Tinubu Square at the end of 2017.
Bpifrance has been invested in Tinubu Square since 2011.
Long Arc Capital partner and Tinubu board member Vincent Fleury said: “The Tinubu team has performed incredibly well over the last few years.
“The business is now poised to become the market-leading enabler of digital transformations for the Credit and Surety Insurance industries.
“With this additional capital, we expect Tinubu will achieve new levels of success in the US as well as in the rest of the world.”
Founded 20 years ago, Tinubu Square has clients in over 20 countries with offices located in Paris, London, New York, Montreal, and Singapore.
