iBanFirst

iBanFirst is a financial services provider that offers a cutting-edge online platform to small and medium-sized enterprises (SMEs), enabling fast, secure, and cost-effective transactions in over 30 currencies, along with foreign exchange risk hedging capabilities. Founded in Paris in 2013 and headquartered in Belgium, the company operates as an alternative to traditional banking services, simplifying international operations for SMEs.

iBanFirst's core banking platform facilitates multicurrency payments, allowing financial teams to make and receive payments seamlessly across borders. The platform's innovative features, such as the Payment Tracker, provide clients with enhanced visibility and control over their cross-border transactions. As of September 2023, iBanFirst processed transactions worth over EUR 1.4 billion per month across its European operations.

The company has expanded its presence through strategic acquisitions, including Dutch Nederlandsche Betaal & Wisselmaatschappij and German Forexfix in 2019, as well as UK-based Cornhill in June 2022. The latter acquisition marked iBanFirst's entry into the UK market, enabling it to better serve clients navigating the post-Brexit landscape by facilitating seamless GBP transactions.

In June 2021, iBanFirst partnered with Marlin Equity Partners, a private equity firm, to accelerate its international growth and solidify its market leadership across Europe. As of 2024, Marlin Equity holds a 51% stake in the company.

Key customers and partnerships

iBanFirst serves a diverse clientele comprising import-export companies operating in various sectors, including automotive, agriculture, energy, IT, telecommunications, construction, and retail. In Romania alone, the company facilitated international payments worth over EUR 1 billion for its clients in the first two years of operations.

The company's client portfolio primarily consists of SMEs engaged in trade with foreign partners from the European Union, China, and Turkey. iBanFirst's clients benefit from dedicated account managers who assist them in utilizing the platform effectively and growing their businesses through tailored products and solutions.

Additionally, iBanFirst has integrated open banking capabilities into its platform, enabling large companies working with multiple banking partners to centralize their financial operations within a single interface. This feature allows clients to monitor bank accounts, initiate payments, and exchange currencies seamlessly, further simplifying their day-to-day financial operations.