Crédit Agricole Consumer Finance announces its intention to acquire Pledg to support Sofinco’s ambition to be a leader in point-of-sale and e-commerce financing in France
The acquisition of Pledg by Crédit Agricole Consumer Finance will enable fintech, which represents a portfolio of more than 200 partners and €220 million in annual production in 2023, to continue its technological investments.
In a spirit of pooling, this strategic operation will enable the acquisition of know-how in the exploitation of partner data and maturity in the use of the various tools (proprietary scoring, open-banking, etc.) of interest to Sofinco.
In a market undergoing restructuring and in anticipation of the transposition of the new European Consumer Credit Directive, which will integrate split payment with consumer credit, Sofinco will benefit from synergies with Pledg to consolidate its position in the split payment market and offer its 7,000 partners increasingly efficient and innovative pathways.
The carrying out of the operation is subject to the usual suspensive conditions in this field. The impact of the transaction would be neutral on Crédit Agricole S.A.’s CET1.
We are delighted with this transaction, which confirms the validity of our choices and the quality of both our technology and our customer portfolio. Banking backing was the way to go and Consumer Finance is the preferred buyer, due to the number of merchants served, their know-how in consumer credit and the human quality of their teams. All Pledg employees are pleased to support Sofinco’s ambitions.
The acquisition of Pledg is an opportunity to consolidate our activities on split payment, both on e-commerce routes but also in points of sale. This operation allows us to benefit from a specialized expertise that will position Sofinco as the reference player on the French market. It is a service that has become essential to meet the demand of our various partners and end customers.
Crédit Agricole Consumer Finance press service
Claire Garcia – presse@ca-cf.fr +33 (0)1 87 38 11 81 / +33 (0)6 80 41 17 77