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A new deal for Largillière Finance, the independent investment bank specializing in small and mid cap transactions, which has advised Nalo, one of France's leading online financial advisors, on its merger with Apicil, France's 3rd largest social protection group. This transaction will enable Nalo to accelerate its development and establish itself in the digital savings market.

Nalo is a French advisory and automated wealth management fintech launched in 2018. It offers its customers a unique offering on the market, combining technology that is unique in France with ultra-personalized advice, with no standard risk profiles. Nalo has rapidly established itself as one of France's leaders in online savings, with nearly 400 million euros in assets under management by 2022.

This merger follows on from the two fundraisings carried out in 2018 and 2020, and aims to support Nalo in developing its activities and growing its assets under management in complete independence: the company retains its full structural and operational autonomy to achieve its objectives.

For Apicil, the process was conducted with Mandalore Partners, a specialist in corporate venture-as-a-service in the insurance, asset management and savings businesses. At the end of this process, the Apicil Group becomes Nalo's new majority shareholder. The remainder of the capital is distributed among the members of the Nalo management team.

“We are delighted to welcome the Apicil Group to Nalo's capital,” says Numa Jequier, CEO of Nalo. This financing will enable us to continue cultivating the specific features that have made us so successful since 2018, while benefiting from the support of an already well-established group that shares our vision and our spirit of innovation. We would like to thank the teams at Largillière Finance, who were able to introduce us to the right partner and support us in completing the transaction in the interests of all stakeholders.”

“Digitalized savings management is booming and arousing major interest among traditional financial players. With this merger, carried out by the Largillière Finance teams at the end of a highly competitive process, Nalo is set to take a leading position in the coming years. With some twenty deals in the financial services sector over the last 24 months, Largillière Finance is proud to have supported this fintech nugget”, emphasizes Thomas Bureau, Managing Partner at Largillière Finance.

Stakeholders in the operation: