Indian fintech N2Jsoft raises 24 million euros in funds – Le Journal des Entreprises

The Indian company N2JSoft (90 employees; CA: NC), specializing in the management of expense reports, has just raised 24 million euros from the American fund PSG Equity (14 billion dollars in assets, including 4 billion in Europe). A feat in a context where access to the venture capital market has become more difficult even for promising young tech companies! According to the In Extenso – Essec Business School barometer, it would be in 3rd position among the biggest AURA fundraisers in the 1st quarter of 2023, just behind Atawey (€25 million) and Amolyt Pharma (€130 million). Free, Babolat and Cultura already use its N2F solution to manage their employees’ expense reports. According to its promoters, it would make it possible to divide the processing time by four, in particular thanks to an ultra-fast intelligent scan. Created in 2015, the fintech based in Montagnat (Ain) wants to impose itself on the European market for the simplification of the management of expense reports by multiplying by 10 the number of its customers, to reach 100,000 customers representing 100 million turnover. annual recurring business. To realize its projects, N2JSoft plans to recruit around 200 people by 2028, including R&D profiles to continue its diversification in the niche of simplifying all time-consuming business processes (management of leave and professional interviews).