FTPA advised Pledg on its acquisition by Crédit Agricole Consumer Finance

March 6 2024

FTPA advised the selling partners of Pledg, a fintech specializing in fractionated and deferred payments, on its 100% buyout by Crédit Agricole Consumer Finance (CACF). This strategic acquisition will enable CACF to boost Sofinco’s [CACF’s commercial brand] offering, with the ambition of becoming the leader in in-store and e-commerce financing in France.

Pledg, a pioneer of Buy Now, Pay Later (BNPL), is joining the Crédit Agricole ecosystem, enriching products and services provided by Sofinco, its division dedicated to retail financing. Founded in 2016, Pledg first introduced innovative solutions for group purchasing among friends, before expanding its offering to include fractional payment solutions, achieving significant success with both retailers and consumers.

The acquisition of Pledg by Crédit Agricole is part of a dynamic strategy to strengthen its position in the fractionated payment market, in a context marked by rising interest rates and increased competitiveness.

In order to maintain Pledg’s capacity to innovate and its independence, the giant French mutual bank plans to keep it as a fully-owned subsidiary.

FTPA assisted Pledg’s selling partners on corporate matters with François-Xavier Beauvisage, partner, Julien Garanger and Noëmie Rivas, associates; on tax matters with a team comprising Sophie Jouniaux, partner, François-Xavier Cochenet, associate, and on employment law with Laure Calice, partner and Marine Claisse, associate.