French fintech Hero secures payment institution licence from ACPR
Paris-based fintech Hero has been granted a payment institution licence by the French Prudential Supervision and Resolution Authority (ACPR).
Hero lands ACPR licence
Founded in 2021, Hero provides a payments and cash flow management platform for small and medium-sized enterprises (SMEs) in France, incorporating fintech and banking services like card issuance, short-term financing, and IBANs.
Having obtained its ACPR licence after a two-year process, Hero is set to expand its presence across Europe. The company has also launched an all-in-one business account that includes a Visa Platinum debit card, supplier invoice financing, instant payment solutions, and a variety of short-term financing options aimed at European SMEs.
“The payment institution licence allows us to eliminate dependence on external banking service providers, reducing extra costs and ensuring we offer a fully autonomous, competitive solution to our clients,” notes Hero’s founder and CEO Roland Jais-Nielsen.
“Thanks to the European Banking Union and its passporting mechanism, this licence – obtained in France – can be used in nearly 30 countries, allowing us to provide a self-sufficient, scalable solution at the European level,” Jais-Nielsen adds.
The new licence comes just months after Hero secured €11.3 million in equity funding, led by New York-headquartered VC firm Valar Ventures. Hero said at the time it would use the funds to accelerate product development and drive expansion into the “main European markets”.
