SHINE acquires LIBEO, a French specialist in the management and payment of supplier invoices, for an undisclosed amount. The fintech, which announces that it supports nearly 3,000 SMEs and accounting firms, is joining the CEGID group with all of its teams. Profitable since 2025 according to its declarations, it intends to rely on this merger to expand its distribution.
LIBEO changes business scale after reviewing its priorities, funded to expand in Europe in the early 2020s, the company then refocused its business, closed its UK operations and increased its specialization in SME procurement and spending. Its acquisition by SHINE comes at the end of this reorientation.
The operation, on which AVOLTA advised LIBEO, provides for the arrival of all the teams, including co-founders Pierre-Antoine Glandier and Jérémy Attuil. The product and prices remain unchanged, according to the information provided. LIBEO shows growth of 36% over one year, without the indicator used or the exact period being specified in the announcement sent.
From fundraising to refocusing activity
Co-founded by Pierre Dutaret, Jérémy Attuil and Pierre-Antoine Glandier, LIBEO developed around a task familiar to small business managers: paying their suppliers without multiplying manipulations between invoices, tracking tables and banking interface.
The company announced an initial financing of 2 million euros in 2019, then 4 million euros in April 2020. In February 2021, it raised an additional 20 million euros from the partners of DST GLOBAL, SERENA, BREEGA, LOCALGLOBE and business angels. The stated ambition was then to extend its business-to-business payment service across Europe.
LIBEO also expanded its offering in July 2021 with the acquisition of TRACKPAY, a specialist in monitoring customer collections.
The trajectory has since evolved. In a July 2025 communication, LIBEO explained that it had focused its efforts on the needs of restaurateurs, franchisees and restaurant groups. It announced a 50% increase in its turnover in 2024 and the achievement of profitability at the start of 2025. The accounting definition of this profitability was not detailed.
Expertise in multi-location business spending
This specialization gives a concrete scope to the product. For a manager who operates several restaurants or businesses, an invoice must be attached to the correct establishment, matched to an order, checked then validated before payment. The multiplication of sites increases the number of documents and contacts.
LIBEO takes care of this circuit, from receipt of the invoice to payment. Among the references cited are franchisees of CARREFOUR, MONOPRIX and MCDONALD’S.
With LIBEO AI, launched in 2025, the company also presented functions for reconciling invoices and delivery notes, tracking purchase prices and breaking down expenses by point of sale. It then indicated that twenty customers were testing this offer. The challenge is to make invoice data usable to track costs and identify discrepancies that affect margins.
SHINE brings a new distribution relay
For LIBEO, the merger opens potential access to a broader clientele of SMEs and accounting firms. “With Shine, the complementarity is obvious: same market, same culture. This merger will allow us to accelerate and continue to simplify the daily lives of SMEs,” declares Pierre-Antoine Glandier.
For SHINE, LIBEO strengthens the processing of supplier expenses, in addition to the professional account, invoicing and accounting tools. The objective is to link received invoices, their validation and payment to the company’s other financial operations.
This development is part of an expanded scope since the finalization of the acquisition of SHINE by CEGID on June 8, 2026. The unit dedicated to SMEs and accounting firms announced on this occasion brought together 2,300 employees under the direction of Rico Adlor-Andersen.
A favorable timetable, an integration to be built
Electronic invoicing reform comes at a time when companies are re-examining their tools. Since September 1, 2026, the companies concerned must be able to receive electronic invoices. The emission obligation will extend to SMEs and microenterprises on September 1, 2027.
For SHINE, which has the status of approved platform, LIBEO provides useful functions for processing invoices after their receipt. However, the timetable and terms of their integration remain to be specified.
The announced maintenance of the product and prices ensures immediate continuity for LIBEO customers. The next step will be measured by the group’s ability to disseminate the solution more widely, while reducing manipulation between tools. It is through this work that the promise of acceleration will take shape.
