Pivot secures €5M Pre-Seed funding for procurement management

Today French startup Pivot announces a €5 million Pre-Seed round in funding. 

Founded in 2023 by former C-levels of French unicorns (Qonto and Swile), Pivot is a full-service spend control software designed for procurement teams. 

Native integrations with ERPs and company tools allow implementation in just a few days without an integrator. Intuitive interfaces foster employee adoption, avoiding the need for training.

For finance, legal, compliance and security teams, Pivot offers automations that dramatically reduce manual work and endless email threads.

Optimising procurement management has become crucial for companies seeking to maximise their profitability.

However, the procurement sector is still dominated by old-fashioned tools, designed almost twenty years ago, whose over-multiplication of features results in counter-productive complexity. This leads to an implementation period averaging 9 months, requiring onerous intervention by integrators.

Pivot co-founders realised that there was no offer matching their expectations, so they created the first modern procurement tool that helps companies keep spending under control while enhancing their teams.

According to Romain Libeau, Co-founder & CEO of Pivot:

"I discovered procurement at Swile when we set up the division to accelerate profitability by controlling and optimising spending.

I looked at the solutions on the market and quickly realised that it would take far too long to measure their impact. 

I anticipated a huge barrier to adoption when I saw the interfaces and complexity of the software on the market. I couldn't see how we could offer this to our employees in a context of change management."

Having helped transform their respective markets, Marc-Antoine Lacroix (CTO and CPO of neobank Qonto), Romain Libeau (COO of employee benefits fintech Swile) and Estelle Giuly (workflow automation expert, formerly at Wave.ai and Nuxeo), have recruited a team of experts from France's top scale-ups (Qonto, Doctolib, Payfit, Wave, 360Learning, Swile) and developed a radically innovative solution. 

Pivot is based on three pillars:

• An intuitive user interface ensures immediate adoption by all employees, without any need for financial knowledge.
• Interoperability with company applications such as communication tools, ERPs, and vertical tools such as Leeway, Okta, and BambooHR.
• AI-based automations that relieve finance teams from countless manual tasks, maximising their productivity and allowing them to focus on high-value-added tasks

Funding is raised from venture capital firms (Visionaries, Emblem, Cocoa, Anamcara, Financière Saint James) as well as successful entrepreneurs and investors such as Loic Soubeyrand (founder of Swile), Steve Anavi (co-founder of Qonto), Hanno Renner (co-founder of Personio), Oliver Samwer (co-founder of Rocket Internet).

Robert Lacher, Founding Partner at Visionaries Club, shared: 

"Incumbents from the 1990s failed to reinvent their architecture and create modern, interoperable SaaS applications.

Today customers are looking for lean, self-service, ready-to-use, API-driven, modular and intuitive user interfaces. Pivot offers a radically new approach that both companies and their employees love."

 In the coming weeks, Pivot plans to launch its solution in European countries and can already count on the support of its first customers like the French Unicorn Voodoo.

Lead image: Pivot. Photo: Uncredited.