This press release is issued jointly by MiTrust and CNP Assurances.
MiTrust, a leader in personal data sharing, has finalised a new fundraising round, bringing the amounts raised since its creation to €5 million. Open CNP, CNP Assurances’ corporate venture fund, which has supported the company since October 2021, participated in the transaction alongside the management and business angels. It retains a minority stake in the capital.
Open CNP is thus pursuing its objective of financially supporting the growth of innovative start-ups, while working with them to develop advanced solutions in the fields of insurance, e-health and fintech, enabling it to better serve its customers. Previous investments include companies such as Alan, Lydia, October, Paylead, Tehtris, YesWeHack, MySofie and Moneybox.
“I am delighted with the renewed support of our historical shareholders and Open CNP to accelerate MiTrust’s development in the fast-growing digital trust market. In addition to its role as a financial investor, Open CNP is helping us to co-create and use innovative digital solutions specific to the insurance industry for our own needs,” explains Xavier Drilhon, Executive Chairman and co-founder of MiTrust.
As part of the European strategy for the development of the digital economy, MiTrust is positioned as a data intermediation service, enabling service operators to meet the challenges of digitization and compliance with increasingly demanding regulations. MiTrust enables European citizens to exercise their rights of access to their personal data online and in real time, in the fields of open banking, open finance, remote identity verification, and more generally, access to any protected personal data available online. MiTrust’s customers include leading financial institutions such as Crédit Agricole Consumer Finance, Banque Stellantis and CNP Assurances, as well as SMEs such as Verlingue and ZEbet, and innovative start-ups such as Zelok and Provigis.
Free of charge for users, the solution is sold in the form of a single, universal API to service operators wishing to improve and digitalize traditional customer relationship and management processes. Thanks to MiTrust, traditional processes based on online questionnaires and supporting documents are replaced by a simple, secure, real-time connection to a reliable data source, facilitating “instant decisioning”.
MiTrust’s recently deployed innovative solutions include:
- Immediate digital verification of a prospective tenant’s identity and financial capacity for the property rental market.
- Automatic approval by an insurer of a prospective tenant for unpaid rent cover through selective, non-intrusive analysis of his or her bank account.
- Real-time income verification for consumer credit applications.
- Automate regular supplier compliance checks.
- Simplified declaration and automated follow-up of an insurance claim.
“We’re delighted to continue supporting the development of MiTrust, whose services make sharing personal data simple, secure and respectful of citizens’ privacy. This ambition is in line with Open CNP’s vocation to invest in the capital of innovative start-ups and support them in their development,” says Sarah Bouquerel, Director of Activities and Strategic Relations with the La Banque Postale Group and member of the CNP Assurances Executive Committee.
