With this partnership, Moment and Euler Hermes assert themselves as the benchmark partners for small businesses in case of default or late payment, which can threaten their development or even their existence. In France, according to the Observatory of late payments, 25% of SME’s bankruptcies (which represent a total of 3.7 million employees) are due to late payments. Moment has been designed to meet their specific requirements: insurance is per invoice, with a fixed and transparent price, and the platform is easily integrated with the existing invoicing software in the client company (ex: Sellsy, Quickbooks)
With this partnership, coupled with an investment of 1.5 million euros structured by Idinvest Partners, Euler Hermes is taking a new step in its "Confidence to be Bold" strategic plan by continuing to expand towards innovative products and new markets.
Moment, an initiative of the Euler Hermes Digital Agency that has become a full-fledged fintech
In 2015, Euler Hermes created the Euler Hermes Digital Agency (EHDA), a structure dedicated to innovation to reinvent credit insurance. It was within this structure of which he was part at the time that Raphael Kakon had the idea of developing a 100% digital solution dedicated to SMEs.
Raphael Kakon and Euler Hermes then jointly decided to experiment with a new method to launch this solution: create an independent and very agile structure, which will become Moment. “We proposed to Raphael to make Moment a full-fledged company through a spin-off. By giving this initiative a chance, we have been able to demonstrate the ability of Euler Hermes to support high-potential projects and more generally our desire to foster innovations applied to the insurance sector, ”said Virginie Fauvel, member of the Management Board in charge of group transformation and responsible for the Americas region.
An innovative and tailor-made insurance policy
As part of their partnership, Euler Hermes provides Moment with an innovative and tailor-made insurance policy designed on the basis of its Single Invoice Cover API. This allows fintech to develop by benefiting from the guarantee of Euler Hermes, world leader in credit insurance, a pledge of confidence for its customers and prospects.