Orange Bank has purchased the neobank Anytime, which focuses on small companies, independent professionals and associations, through a deal whose terms were not made known, according to a Wednesday (Jan. 6) announcement.
“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 CEO Paul de Leusse said in the announcement.
Orange Bank is now seeking to simplify financial management for small and medium-sized businesses (SMBs) and small offices/home offices (SOHOs) following its success in providing the general public with mobile banking offerings. According to Orange, Anytime is among the leading three neobanks in that area in France and has been earning a profit since 2018.
Anytime has expanded by providing spend management, payment offerings and corporate accounts that simplify operations for small companies. Its platform enables companies to create invoices and quotes and to manage unpaid invoices, among other tasks.
Those offerings will be further built out with the help of Orange’s professionals to create an in-depth infrastructure, which will help corporate clients more effectively handle their finances, according to the announcement.
“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,” Anytime Co-founders Damien Dupouy and Thierry Peyre said in the announcement.
As it stands, Orange serves millions of corporate and professional clients in France who might choose to utilize Anytime’s services. Anytime will benefit from the strength of Orange’s name with SOHOs and SMBs as “a wholly-owned subsidiary” of Orange Bank, according to the announcement.
In separate news, Orange Bank was rolling out fully mobile banking offerings in Africa, per news in July. The new mobile banking service expanded out of the firm’s initial Orange Bank money transfer service, which rolled out in 2008.