25/1/2024
A common project for both companies: to transform the ESEF regulatory obligation into a financial communication opportunity for all players.
Being the leading European source of company insights
Corporatings' mission is to change the way we access the financial information published by companies by harnessing the power of AI (Artificial Intelligence). Through its proprietary database and intuitive interfaces, the startup facilitates the daily life of its users by delivering the promise of transparent and reliable fundamental data.
When they value or compare companies, auditors, analysts and accountants still source data from PDF documents. In addition to wasting 30% of their time, this process often causes errors. They cost the financial industry tens of billions of euros each year and end up weighing heavily in today's constantly evolving world.
Alexandre Prat-Fourcade, CFA, CEO of Corporatings: "We created Corporatings with the ambition to help financial professionals to access all the information available. In this way, we contribute to the construction of an ecosystem where information generates value for all, thanks to the transparency of data and its communication."
Unique technology to deliver raw data and to kill data-crunching
Initially supported by Efrei Entrepreneurs and SQY Cub, the Saint-Quentin-en-Yvelines incubator, the FinTech can now count on the support of renowned investors : Elaia Partners, 50 Partners, VAeX Capital Partners (with former Boursorama and Edmond de Rothschild CEO Vincent Taupin) and business angels such as the founders and executive leaders of Quantalys as well as certain members of the Efrei Business Angels network.
Céline Passedouet, Elaia: "We are glad to support Corporatings, which chose the right time to target a market that has experienced too little technological innovation with a strong technology to tackle the issue of automating the reading of financial (and soon extra-financial) reports. Corporatings has the right team to successfully carry out this project with a proper technological and business complementarity, as well as a strong ambition."
Corporatings' expertise is rooted in the exploitation of regulatory data structuration formats as a basis for automated learning. This learning process combines techniques for identifying the logical structure of a document with NLP algorithms (Natural Language Processing) derived from research and optimized for business-related data.
The €2 million funding will be used to recruit over 10 specialists in data, tech and business (see Corporatings job opportunities) over the next twelve months, and to speed up the commercialization of Corporatings solutions.
Becoming a key partner of the European financial industry
Corporatings supports auditors, corporate accounting departments and accountants in their review and analysis of pre-publication data with its Prism solution. Through its Lens solution, the company also allows auditors, Investor Relations supervisors, business executives, and more generally all financial analysts, to leverage hundreds of millions of data items on global companies, either by providing the data directly or, for example, by performing benchmarks.
The resulting solutions constitute a significant break with traditional solutions, not only regarding the quality of the identified information, but also the speed of data retrieval and availability. Corporatings thus helps a growing number of European users (already x10 in 2022) to focus on their real added value.
Xavier Niffle, Associate, Head of Digital Audit & Innovation at KPMG France adds: "Corporatings' professionalism, as well as its ability to adapt to regulatory changes and to anticipate our needs, grants us a continuous access to an innovative and efficient audit solution which stands out from the other solutions currently on the market."
This unique positioning is key to the circulation of reliable information, which constitutes a fundamental cornerstone of a strong and sustainable economy.
About Corporatings
Corporatings helps all financial professionals to access and analyse business data by offering a proprietary database and intuitive solutions. Its expertise has already convinced consulting leaders and professional associations worldwide. The Paris-based FinTech was created by Alexandre Prat-Fourcade, Marc Houllier and Cyril Manssens in 2021. It has been supported by professional investors and €2million funding since 2022.
For more information: www.corporatings.com
Press Contact
Alexandre Prat-Fourcade – Corporatings CEO: aprat@corporatings.com - +33.6.31.22.22.02
Louisa Mesnard – Elaia CMO: lmesnard@elaia.com