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Key people at Algoan.
Algoan is a fintech company based in Paris, France, that develops credit decisioning APIs and risk assessment software powered by open banking data and machine learning. Operating on a B2B SaaS model, the firm provides financial institutions with transaction analysis tools for consumer credit, mortgages, and BNPL services. These algorithms are designed to evaluate payment risk and affordability, enabling lenders to reduce credit risk and increase loan production efficiency across European markets. The enterprise operates with approximately 50 employees and has secured over €20 million in total funding, including an €18 million Series A round led by venture capital firm Daphni. Algoan serves a client base of retail banks and consumer credit providers, featuring partnerships and customer relationships with Mastercard, Oney, Floa, and Younited. The company was founded in 2018 by Michaël Diguet and Fabrice Amalaman.
Algoan is a Paris-based fintech company founded in 2018 that provides API-based credit decisioning tools leveraging Open Banking data to make lending fairer, more efficient, and inclusive.[1][3] It serves financial institutions, retailers, and fintechs by offering solutions for credit scoring, risk assessment, fraud detection, and digital onboarding, solving problems like outdated socio-demographic criteria, high risk, lengthy processes, and low approval rates—claiming up to 50% risk reduction and 40% higher approvals.[2][3][5] With strong growth, Algoan powers major French banks like Société Générale's Franfinance and Cofidis, plus clients in Belgium and Spain, and has secured investments from partners like Sopra Steria.[2][6]
Algoan was co-founded in 2018 by Michaël Diguet, former Director of R&D at Dassault Systèmes, and Paul (full name not specified in sources), ex-Director of Structured Finances at Fitch Ratings.[3][4] Motivated by flaws in traditional credit granting—unfair socio-demographic biases and inefficient processes—they pioneered Open Banking-based algorithms for automated, data-driven decisions using real-time bank transaction data.[1][3] Early traction came from deploying with top French banks across Europe, a 2022 investment from Sopra Steria accelerating partnerships, and agile adaptations like a free consumer finance prediction tool launched in two weeks during COVID-19 lockdowns.[2][6]
Algoan rides the Open Banking wave—enabled by PSD2 regulations—shifting credit from biased, manual processes to real-time, data-rich AI decisions amid rising demand for financial inclusion.[3][7] Timing aligns with post-COVID lending caution, digital transformation in fintech, and extensions to underserved segments like gig workers by mid-2024, countering traditional data gaps.[4][6] It influences the ecosystem by partnering with giants like Sopra Steria, Mastercard, and Société Générale, standardizing responsible credit tools across Europe and accelerating adoption among 1,500+ institutions via allies.[2][6][7]
Algoan is poised for expansion with its platform strategy on Google Cloud, targeting new markets like the US (via offices in New York and San Francisco) and use cases in subscriptions and regulatory compliance.[2][4] Trends like AI-driven personalization, stricter risk regs, and Open Banking maturation will fuel growth, potentially evolving Algoan into a global credit infrastructure leader as adoption scales beyond Europe.[1][6] This positions it to further democratize fair lending, building on its revolutionary start in upending inefficient credit systems.
Key people at Algoan.
