Be visible – tell your story!
Attention all entrepreneurs! You can have the best product in the world or highly sought-after know-how, but without the ability to get that across to people, it’s almost as if you don’t exist. And it's impossible for you to move to the next level! That's where Partoo comes in, the French SaaS company specializing in improving businesses’ visibility on the Internet. Let Silvr, the start-up's growth partner, tell you its story!
Attention all entrepreneurs! You can have the best product in the world or highly sought-after know-how, but without the ability to get that across to people, it’s almost as if you don’t exist. And it's impossible for you to move to the next level!
That's where Partoo, the French SaaS company specializing in improving businesses’ visibility on the Internet, comes in.
Just out of ESSEC, in 2014, Thibault Lévi-Martin created Partoo. The start-up supports independent retailers and craftsmen in developing their online revenue as well as large retailers operating networks of points of sale (Truffaut, BUT, Starbucks, Carrefour, Leroy Merlin).
Small and large businesses suffer from their online visibility !
As for local retailers and independent businesses, they are too often caught up in their administrative and operational routine: they lack the internal resources to grow their reputation on the Internet.
Major retailers, meanwhile, certainly have more human and financial resources to gain visibility internally, but they generally fail to harmonize information from one point of sale to another. One store may be very well identified online, while another will lack reliable data (up-to-date data, in compliance with the corporate identity and style guide, etc.).
Overall, Partoo offers five types of products:
1/ Presence Management: ensure the dissemination of the right information about the establishments on the main directories, search engines, GPS, social networks and review sites
2/ Review Management: centralize customer reviews from different websites and manage them via a single platform (analysis, interactions, etc.)
3/ Review Booster: Encourage satisfied customers to leave a review online, including the use of QR codes and SMS invitations
4/ Store Locator: optimize websites with customizable store locators and highlighting of the customer's establishments in queries related to their activity
5/ Messages: centralize interactions with customers in order to respond to them simply locally or centrally
On the independent business side, Partoo has attained over €1m in ARR – 100% growth every year since 2014 – and is targeting €7m by the end of the year. The independent businesses take out a subscription and gain access to all products (single offering).
As far as the large retailers are concerned, Partoo's take-off is just as remarkable. The 700 partner stores represent an ARR of €14 million, an amount that should rise to €23 million by the end of 2022. These large shop networks subscribe to an annual subscription, with a tailor-made offer, product by product - Thibault Renouf, Partoo's CEO, talks about it very well here.
In this context of hyper-growth, Partoo called on Silvr to diversify its sources of financing.
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Partoo can certainly count on the support of its leading shareholder Webedia – the online media giant – but with three-digit growth, the financing needs are ever higher. Moreover, diversification of funding sources remains a priority for the management.
“In the midst of a growth boom, the need for cash flow becomes important and constant, hence the interest in diversifying one's sources of financing.”
Jonathan Bonnet, CFO of Partoo
After an initial call, the start-up connected its accounts to the Silvr platform. It was then the turn of the algorithms to carry out a precise analysis of the company's performance, assess the risks and propose a first round of financing. Once approved, the company received the funds in its bank account within 24 hours. Jonathan was immediately convinced by the model, which combines speed of execution with operational simplicity.
“The agile environment and responsiveness of Silvr's teams surprised me. Usually, credit negotiations can take months to complete.”
Jonathan Bonnet, CFO of Partoo
Partoo started with an initial financing of €800K and each month hopes to transform part of its revenues into immediate cash flow, until it reaches €6M over the year. This is a way to support its development and give itself the means to achieve its ambitions by addressing its short-term costs with Silvr.
Courtesy of this recurring and flexible cash advance, Partoo is able to invest in its business without waiting for its monthly subscription payments. As a first step, the company has started to strengthen its teams, particularly in the sales and customer support areas.
Geographically, the ambition is great: Spain already serves as a base for southern Europe, but this is not enough because the desire is to expand worldwide, particularly in Latin America and India.
Finally, Partoo is about to release a new product, something that should revolutionize the sector: Messaging. This functionality will allow Internet users to dialog directly with retailers, on Google for example.
“Silvr is a long-term partner for us, and they will be able to help us through the various stages of our development.”
Jonathan Bonnet, CFO of Partoo
With 280 employees today, Partoo has set its sights on €100 million in ARR and 1,000 employees by 2025. Is this enough to become the world leader in e-reputation for brands and businesses? At least, that is the trajectory that is taking shape.
Find out more at partoo.co.
And go to the website of Silvr to apply for (re)financing.
Published on
May 25, 2023
By
Sophie
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