Engagement — Add-on Due Diligence
Code & Co. advises Revaia on its investment, alongside Bpifrance, in FASST, a benchmark for distribution platforms for insurance and wealth management companies.
Revaia, a prominent European sustainable growth investor, together with Bpifrance through its Large Venture fund, has spearheaded a €27 million financing round for FASST, a key player in digital acceleration for insurers. This funding will empower the company to advance the development of its solutions and drive its growth across France and Europe, addressing the increasing digital transformation demands of insurers.
Scope of Work
Code & Co. performed a thorough assessment of FASST's platform. Code & Co. audited FASST's architecture, including its modular technical design, infrastructure, technology stack, and cybersecurity measures.
Code & Co. analyzed FASST’s integration capabilities, product and AI roadmap, and operational excellence. The assessment also included a review of FASST's engineering practices, team structure, highlighting its mature software development lifecycle and quality assurance processes.
About FASST
Created in 2017, FASST has become the benchmark in distribution platforms for insurance and wealth management companies. Its founders, Xavier Favre and Yasser Echoukry, experts in the distribution of insurance products and digital innovation, created the Open Insurance Platform, a technology based on an omnichannel distribution platform, offering significant productivity and performance gains to insurers, mutuals and brokers, while enabling them to improve their time-to-market and reduce their deployment costs. Fasst.io
About Revaia
Revaia is a leading investor in sustainable innovation, partnering with mission-driven entrepreneurs with global ambitions and sustainable leadership. With the support of major institutions, such as the European Investment Fund, Revaia helps growth-stage companies navigate their entire life cycle from Series B to IPO or buyout. Revaia builds bridges between venture, private equity, and public markets and supports entrepreneurs who are working to transform the world for the better. With offices in Paris, London, and Berlin and a presence in North America, its diverse team brings hands-on expertise and unique ESG know-how to the most promising technology scale-ups. Revaia is very proud to be supporting companies such as Acorns, Algolia, Aircall, Coralogix, Deepki, Epsor, Frontify, Deepki, GoHenry, Hublo, Kaiko, Mews, Planity, Platform.sh, Welcome to the Jungle, and Yubo. Revaia.com
About Bpifrance
Bpifrance's equity investments are operated by Bpifrance Investissement. Bpifrance finances companies at every stage of their development through loans, guarantees and equity, and supports them in their export activities, innovations, and international projects. Other services Bpifrance provides includes advisory, and university, networking and acceleration programmes for start-ups, SMEs, and ETIs. Entrepreneurs further benefit from Bpifrance’s 50 regional offices, offering a close and effective contact point to help them address their challenges. Large Venture is Bpifrance's €2.5bn venture growth fund dedicated to very high-potential technology companies. It aims to foster emerging French leaders in their respective markets. Since its creation in 2013, the fund has already invested in over 60 companies in the digital, greentech, healthcare and life sciences sectors. Visit at bpifrance.com - Bpifrance