Societe Generale to acquire Shine from XAnge Capital, Kima Ventures and Daphni.

Societe Generale, a French financial conglomerate, agreed to acquire Shine, a provider of software solutions, from XAnge Capital, a venture capital investment firm based in Paris, Kima Ventures, an early-stage investor, and Daphni, a venture capital firm. Financial terms were not disclosed. ‘Through the acquisition of Shine, we will be able to offer entrepreneurs the widest offer in this growing, high-value market. Shine’s model appealed to us because it reinforces our relational promise to offer clients the best of mix of people and digital technology. Finally, there are many synergies with our various businesses allowing us to take our Open Banking strategy to the next level," Marie-Christine Ducholet, Societe Generale Director of Retail Banking in France.