Chift enables SaaS companies to integrate with dozens of financial tools using a unified API

Pennylane, Qonto, Agicap, Pleo and Mollie all have one thing in common. Everyone advantages Shift manage integration with other services in a technique or one other. This relatively young Belgium-based startup just raised a seed round of €2.3 million ($2.5 million at today’s exchange rates).

Many fintech startups depend on integrations to make their product work with customers’ financial stack. They often find yourself creating countless connectors and partner integrations to ensure financial information is consistent across several products. As their integration ecosystem grows, they generally depend on an iPaaS (Integration Platform as a Service) provider.

Chift essentially acts as a third-party integration expert. It works a bit like this CODED within the UK and To mix within the US Instead of constructing connectors one after the other, Chift offers a set of unified APIs which might be compatible with the preferred financial tools available.

For example, Chift has developed an accounting API that’s compatible with French accounting software from Sage, Cegid, and Pennylane. The company has also developed integrations around invoicing tools, e-commerce platforms and point of sale software.

Chift decided to deal with financial tools first. “We integrate with tools that generate financial data,” co-founder and CEO Gauthier Henroz told TechCrunch.

Unlike other industries, the fintech market continues to be relatively fragmented – each European country has its own accounting or invoicing platforms. However, it will probably be useful to have access to financial data from any SaaS product.

As more companies come to depend on Chift, the startup will give you the chance to add more connectors. All Chift customers can make the most of these recent integrations. An additional profit to Chift is that it creates a barrier to entry for newcomers.

“In Europe, that is where the complexity lies. The situation will likely be different in each country, especially when it comes to accounting, point of sale and invoicing tools,” Henroz said.

“We help our clients who then increase sales or open new markets. There is very little employee churn because you are integrated, you are connected, you connect them with others and create new opportunities for them,” he added later within the conversation.

Developing integration can be not a one-time project. Companies release updates to their APIs, which might lead to failures. Chift is accountable for maintaining these integrations. SaaS companies can deal with their core product as an alternative of these integrations.

Investors within the seed round include: Surroundings (Pieterjan Bouten Fund), Shapers (Philippe Teixeira da Mota’s fund), Seeder Fund and a number of other business angels. “Our goal is to become a European leader,” Henroz said.