Cresco

News – Venture Capital & Private Equity practice

Formation of B-Hive.eu - the Belgian Fintech Platform

Cresco acted as lead counsel in the structuring, formation and fundraising of the Belgian fintech platform “B-Hive.eu”.

B-Hive.eu is a collaborative innovation platform in which major banks, insurers and market infrastructure players work together on common innovation challenges and build bridges to the start-up and scale-up community.  

The investors in the platform are AXA, BNP Paribas Fortis, ING, KBC, Belfius, Euroclear, SWIFT, AG Insurance, Baloise Insurance, Allianz, Isabel, BNY Mellon, Mastercard and the Belgian Government - by means of the federal investment fund.

B-Hive has three goals:

  • Maintain the competiveness and leverage the opportunities offered by the digital transformation for the financial services industry
  • Build a strong local start-up ecosystem in Belgium that exports its products and services
  • Attract foreign smart technology companies to Brussels as a gateway to the Eurozone

B-Hive has built an extensive partner network with other federations, public partners and universities and now counts most of the local start-up and scale-up community in digital finance among its partners.

Comments Wim De Waele, CEO of B-Hive.eu, comments “Cresco has been a highly valued and reliable strategic partner for the development of both the platform and activities of B-Hive. We were pleased to have Cresco acting as lead counsel to streamline and lead complex structuring operations and negotiations with 15 financial investors.

Adds Tom Feys, Senior Advisor Financial Sector for the Minister of Finance: “Through their expertise in setting up collaborative platforms, pragmatism when dealing with a series of complexities, as well as dedication and their continuous availability, Cresco helped to successfully close the formation and financing of B-Hive.”

David Dessers, Olivier Van Raemdonck and Glenn L’Hoëst constituted the deal team for this transaction and will continue to provide ongoing support to B-Hive.

More information on the creation of B-Hive.eu can be found in De Tijd.

Representative Fintech Transactions

Cresco is very active in the Fintech space and has acted on the following fintech transactions:

  • Venture Capital

Qover in its EUR 7 million Series A round led by Anthemis

The Glue in its EUR 5 million Series A round led by Polytech Ventures

Silverfin in its EUR 4.5 million Series A round led by Index Ventures

Cashforce in its EUR 1.5 million Series A round led by Volta Ventures

  • Mergers & Acquisitions

Xpenditure in strategic Sodexo transaction

Clear2Pay in FIS Global acquisition

  • Fund formation

SmartFin Capital in its EUR 75 million formation and fundraising, investments and divestments

SmartFin Ventures in its EUR 40 million formation and fundraising, investments and divestments

  • Day to day support

Various fintechs and corporates in all types of technology transactions

For any further information or questions, please contact David Dessers or Pieter Capiau.

 

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