French banking group Orange Bank announced on Wednesday it is set to acquire neobank Anytime. Orange Bank claims that the acquisition enables it to address the professional and small business market, as well as support the banking group’s footprint and is fully aligned with the “core multi-service” strategy of Orange.
“After its initial success offering pioneering mobile banking services to the general public, Orange Bank is now aiming to make financial management easier for SMEs and SOHOs. Anytime is one of the top three neobanks in this market in France and has been profitable since 2018. It has grown by offering business accounts, payment solutions and expense management tools that make life easier for small businesses.”
Orange further stated it already serves several million professional and business customers in France, who may also potentially be interested in Anytime’s offers, including start-up entrepreneurs, freelancers, the self-employed, and small businesses.
“With the future distribution of Anytime’s offers by Orange, professional customers will benefit from further financial services and digital management tools.”
Speaking about the acquisition, Damien Dupouy and Thierry Peyre, Co-Founders of Anytime, stated:
“This latest development recognises the strength of the Anytime business model, the first business-focused neobank to be profitable since 2018. This merger with Orange Bank will enable us to offer a greater range of business services (loans, insurance, payments, expert advice etc) and benefit from the powerful Orange brand.”
Paul de Leusse, CEO of Orange Bank, added:
“Anytime’s entry into the Orange Bank family marks a new development opportunity for us in a high-value market segment while establishing strong synergies with Orange Bank and Orange.”
Orange Bank will work with the current management team to accelerate the development of its subsidiary. Anytime offers will initially remain available online via an account set up through the Anytime app or website. Starting in France, services will also be rolled out across Orange Bank’s other European countries. The acquisition terms have not been disclosed.
