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                                PRESS RELEASE

                                                    Montrouge, 28 January 2020

                 Crédit Agricole Group takes a majority stake
                               in Linxo Group,

                           a leading fintech player
           in payment aggregation and initiation services in France

This acquisition  will  enable  Crédit Agricole  to  consolidate  its  leading 
position in digital  payment services. As  part of the  Crédit Agricole  Group 
Project,  payments  are  to  be  a  key  driver  of  customer  retention   and 

Linxo Group was founded in 2010 and  is the French market leader in bank  data 
aggregation and  payment  initiation (new  services  regulated by  the  second 
Payment Services Directive –  DSP2 – since January  2018). The fintech  player 
provides API (Application Program Interface) “bricks” and complete white label
apps for banking and insurance start-ups.

A long-standing partner  of Crédit  Agricole, Linxo Group  offers the  Group’s 
banks an account aggregation solution via their banking apps (Crédit  Agricole 
- Ma Banque, LCL -  Mes Comptes, etc.). With  the support of Crédit  Agricole, 
Linxo Group will have the backing of a top European banking group and a leader
in France,  which will  enable  it to  continue its  growth  and step  up  its 
development in the banking sector.

Moreover, by combining  the Bank’s know-how  with Linxo Group’s  technological 
prowess, this transaction creates opportunities for new digital and innovation
services based on financial  data for the  retail, professional and  corporate 
customers of Crédit Agricole.

When the transaction is complete, the Crédit Agricole Group will own more than
85% of Linxo  Group. The acquisition  will be led  by Crédit Agricole  Payment 
Services and  by FIRECA  (Fonds  d’Investissement et  de REcherche  du  Crédit 
Agricole), a long-standing partner of Linxo Group. The remaining capital  will 
continue to be held by the directors and founders, who will be involved in the
company’s development.  The  transaction  is pending  authorisation  from  the 
French Prudential Supervisory and Resolution Authority (ACPR).

Bertrand Chevallier, CEO of Crédit Agricole Payment Services, commented:  “the 
acquisition of this major  banking aggregation player  in France, a  long-time 
partner of the Crédit  Agricole Group, is an  important part of our  strategic 
aim of offering  customers of  the Group's banks  innovative payment  services 
that meet  the  highest market  standards.  Moreover, it  represents  a  major 
contribution in terms of  technology that will enable  the Group to take  full 
advantage of the innovation opportunities offered by changes in regulations”.
Bruno Van  Haetsdaele,  President of  Linxo  Group, added:  “this  transaction 
enables us to accelerate and strengthen  our services for the Crédit  Agricole 
Group, while giving us the opportunity  to develop our offering in France  and 
internationally for our clients and prospects with Oxlin, our  ACPR-authorised 
payment institution, and to continue the development of Linxo, one of France’s
most popular personal financial management apps”.

About Crédit Agricole Payment Services
Crédit Agricole Payment Services (CAPS) is the Crédit Agricole Group’s payment
services  arm,  with  expertise   in  marketing,  innovation,  and   interbank 
processing and representation. With  a market share of  close to 30%, CAPS  is 
the leading payment services player in France, processing more than 11 billion
transactions per year (cards, transfers, withdrawals and cheques – both issued
and received)).
The provision of payment services is a key activity for the Group’s banks.  It 
is central to the customer relationship and presents significant challenges in
terms of commercial, financial and  tech activities.  Crédit Agricole  Payment 
Services aim is  to develop  innovative services,  combining ease  of use  and 
security. With Crédit Agricole Payment Services, the Crédit Agricole Group  is 
making payments a key driver of customer retention and acquisition. 

About Linxo Group
Founded in 2010, Linxo Group develops and markets account aggregation, payment
initiation and personal finance management solutions.
The platform of its subsidiary, Oxlin – an ACPR-authorised payment institution
– provides  all the  technologies  needed to  access  bank data  and  initiate 
payments, with the agreement of the customer and in a fully secure manner.  It 
provides API (Application Program Interface) “bricks” and complete white label
apps  for  start-ups  across  the  banking  and  insurance  industries.  These 
solutions enable new services and new sources of revenue to be developed for a
range  of  use   cases:  budget  management,   loan  application   processing, 
accounting, customer retention, etc.
Its Linxo mobile  app, which has  more than 3  million users in  France, is  a 
smart personal finance assistant that provides an overview of an  individual’s 
finances and simplifies budgeting.
The company has 81 employees, based mainly  in Aix en Provence and the  Crédit 
Agricole Villages in Paris and Sophia Antipolis.

Press contacts

Nadège  CARTEI  (Crédit   Agricole  Payment  Services   ):   - 
[email protected]
Charlotte   de   CHAVAGNAC    (Crédit   Agricole    SA):    - 
[email protected]
Olivier     TASSAIN     (Crédit     Agricole     SA):     – 
[email protected]


  * 2020 01 28 (GB) CAPS Linxo

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