Sia Partners has acquired Stratumn, a French company that helps companies digitise their finance operations by leveraging the blockchain.
The bolt-on bolsters Sia Partners’ growing roster of solutions, which are grouped under its Heka mantle. “With the addition of Stratumn’s three core solutions the Heka portfolio now consists of 15 SaaS solutions,” explained Matthieu Courtecuisse, the chief executive of Sia Partners.
Founded in 2016, Stratumn provides the finance departments of midsized and large companies with a SaaS solution that optimises their end-to-end financial processes.
Since its inception, Stratumn has booked strong growth, growing its client base to 120 companies (mainly in the insurance and banking sectors), its team to 20 employees, and managed to bag several awards in the process (including being named ‘FinTech Company of the Year’ in 2018 by a French publication).
“Stratumn’s SaaS solution traces who did what, when, where and why through our proof of process protocol. For each step of the process, a proof is developed and registered in the blockchain to guarantee its immutability,” explained Jérôme Lefebvre, the former chief executive of Stratumn (he crossed to another firm upon closing of the deal with Sia Partners).
Now part of the management consulting firm, Sia Partners will integrate the solution into its finance transformation offerings. “We will offer Stratumn’s applications to our 700 customers, to trace inter- and intra-company cashflows at a lower cost, using validation workflows, relying on end-to-end blockchain,” said Courtecuisse.
The CEO added that the deal sees Sia Partners take a frontrunning position in the Web3 consulting space (Web3 is a term used to coin the ‘new internet’ based on blockchain technology). “Sia Partners will be among the very few consulting firms to completely master blockchain technology, which will allow us to develop new use cases alongside our clients, at a strategic moment when Web3 is accelerating fast.”
Launched last year, Heka is Sia Partners’ ecosystem of artificial intelligence solutions. The group currently has around 200 data specialists, data engineers, web developers, and UI/UX designers.
Sourced from Consultancy.eu