Prelude Raises $8M to Revamp SMS and Mobile Onboarding Solutions
Deal News | Nov 14, 2024 | Seedcamp
Prelude, a Paris-based startup co-founded by Matias Berny and Quentin Le Bras, has successfully raised $8 million in a Seed round co-led by Seedcamp and Singular. The company is focused on revolutionizing SMS verification and mobile onboarding through a sophisticated set of APIs that enhance fraud detection, transparency, and conversion efficiency. With customer bases across consumer apps, fintech, and crypto sectors, such as BeReal, Alma, and Bitstack, Prelude offers a SOC 2 Type II compliant solution. Their technology connects with over 20 international and local providers to ensure optimal cost and conversion efficiency in identity verification processes. By also supporting platforms like WhatsApp and Viber, Prelude addresses the growing need for secure and streamlined onboarding processes globally. With this funding, the firm plans to expand its suite of services to tackle challenges in user onboarding, trust, and retention, notably as voiced by customers like Sundays CTO Arnaud Lemaire, who expressed Prelude's impact on global reach and price competitiveness.
Sectors
- Tech - Identity Verification
- Telecommunications
- Financial Technology
Geography
- France – Prelude is a Paris-based company, central to its identity and operations in the article.
- Europe – References to customers operating across Europe highlight the company's regional impact.
- North America – With international customers in North America, the geography further extends Prelude's market reach.
Industry
- Tech - Identity Verification – Prelude focuses on utilizing APIs to improve identity verification processes, which plays a significant role in various technology sectors.
- Telecommunications – The article discusses SMS verification and messaging services, which are components of the telecommunications industry.
- Financial Technology – With customers such as fintech and crypto companies, Prelude's services cater to the financial technology sector.
Financials
- $8 million – Seed round funding amount raised by Prelude.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Prelude | Target company | Company | A Paris-based startup focused on improving SMS and mobile onboarding verification. |
| Seedcamp | Investor | Company | A venture capital firm co-leading the $8 million Seed round for Prelude. |
| Singular | Investor | Company | The venture firm co-leading the $8 million funding round for Prelude. |
| Matias Berny | CEO and Co-founder | Person | Founder and CEO of Prelude, responsible for leading the company's strategic direction. |
| Quentin Le Bras | Co-founder | Person | Co-founder of Prelude, involved in the development of the company's SMS verification solutions. |
| Arnaud Lemaire | Customer, CTO of Sunday | Person | CTO of Sunday, a customer of Prelude, endorsing its impact on B2C engagement. |
| Devin Hunt | Venture Partner | Person | Venture Partner expressing Seedcamp's excitement in partnering with Prelude. |