October

What October does

October (October SA) is a Paris-headquartered fintech founded in 2015 that operates a hybrid European SME lending marketplace across France, Spain, Italy, the Netherlands, and Germany. The platform connects small and medium-sized enterprises with both retail lenders and institutional capital, using a model in which institutional investors automatically finance 51% of each project and the remaining 49% is offered to retail lenders. Loan products include standard loans up to €5 million with maturities up to 84 months, instant loans below €250,000, lease financing, and country-specific state-guaranteed products (Bpifrance in France, BMKB in the Netherlands, Fondo di Garanzia in Italy). As of the latest disclosures the platform has financed more than 4,000 SMEs, mobilising over €500 million in loans and supporting 30,000 retail investors and an institutional base that includes CNP Assurances, Allianz, Groupama, Matmut, the European Investment Fund, the European Investment Bank, CDP, and Bpifrance.

Underpinning the credit decisioning is a proprietary ML-based scoring stack branded as the X-Ray family: Financial X-Ray and Transactional X-Ray perform probability-of-default and affordability analysis; Doc X-Ray and Manager X-Ray handle fraud and governance checks; ESG X-Ray enables SFDR-compliant sustainability scoring; and the Magpie model automates funding-request scoring. The company packages these capabilities into October Connect, a SaaS neolending technology licensed to banks and financial institutions, and into October Factory, an AMF-regulated asset management subsidiary that runs ELTIF-labeled debt investment funds including October SME V. October's official lender page now states that the platform no longer offers new financing solutions or accepts new lender accounts, with operations focused on managing the existing loan portfolio, signalling a shift away from active marketplace origination toward the B2B SaaS and asset management businesses.

Name

October

Legal name

October SA

Website

https://october.eu

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

October is a Paris-based fintech that operates a European SME lending marketplace across five countries, connecting more than 4,000 SMEs with retail and institutional investors, and sells its proprietary ML credit-scoring technology to banks via October Connect.

Ownership category

akta.pro rank

Product category

SME Lending Platform

NAICS

Mortgage and Nonmortgage Loan Brokers (522310), Mortgage and Nonmortgage Loan Brokers (52231), Activities Related to Credit Intermediation (5223)

SIC

Loan Brokers (6163), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Marketplace & Loan Aggregation Platforms (Borrower-Lender Matching) (FSAGAHAL)

akta.pro secondary industry

Merchant Cash Advance & Revenue-Based Financing Enablement (FSAGALAH)

Keywords

• SME lending platform
• Peer-to-peer lending
• Neolending technology
• Credit scoring
• Direct lending

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Interest Rate Spread: October charges borrowers interest rates determined by credit score, risk-free return in the company's country of origin, analysis type, level of security, and loan duration. The spread between lending rates and rates paid to investors represents platform revenue.
2. Fund Management Fees: October Factory, the wholly owned asset management company regulated by AMF, manages debt investment funds (ELTIF) and generates management fees from institutional investors.
3. October Connect Technology Licensing: SaaS software licensing revenue from October Connect neolending technology sold to banks and financial institutions for credit process digitization.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

October operates a European online marketplace that connects small and medium-sized enterprises (SMEs) seeking business financing with retail and institutional lenders across France, Spain, Italy, the Netherlands and Germany. The platform enables direct lending through loan products up to €5M, supported by proprietary ML-based credit scoring models. October also offers October Connect, a white-label neolending technology platform licensed to banks and financial institutions for end-to-end credit processing. Loan portfolio management is conducted via October Factory, a wholly-owned AMF-regulated asset management subsidiary operating ELTIF-labeled debt investment funds.

Product overview

October is a European SME lending platform operating in France, Spain, Italy, Netherlands, and Germany. The platform offers two main offerings: (1) October Direct Lending Platform for peer-to-peer SME lending connecting borrowers with retail and institutional investors, providing standard loans up to €5M and instant loans up to €250,000; and (2) October Connect, a white-label neolending technology platform for banks and financial institutions. October Connect comprises modular analysis tools including Financial X-Ray (ML-based credit scoring), Transactional X-Ray (bank transaction analysis), Bank X-Ray (statement analysis), Doc X-Ray (document fraud detection), Manager X-Ray (governance analysis), and ESG X-Ray (sustainability risk assessment). The company also operates October Factory, an AMF-regulated asset management subsidiary managing debt investment funds including the ELTIF-labeled October SME V fund. For borrower protection, October offers state-guaranteed loan products including Bpifrance-guaranteed loans (France), BMKB-guaranteed loans (Netherlands), and Fondo di Garanzia loans (Italy).

Differentiator

Problem solved

Functional benefit

Brands

• October Connect: Neolending technology solution for banks and financial institutions that enables efficient and secure credit processes for SMEs.
• October Factory

Products and services

• October Direct Lending Platform
• October Connect
• Standard Loans
• Lease Financing
• Instant Projects
• Bpifrance Guaranteed Loans
• Dutch State Guaranteed Loans (BMKB)
• Italian State Guaranteed Loans (Fondo di Garanzia)
• October SME V Fund

Quantifiable outcome

• IRR post-default of 4.59% vs 5.99% pre-default for diversified portfolios
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Feature8 records

Partnerships

Two partnerships are on record, tiered flagship and core.

• ENGIEflagshipStrategic or Co-development Partner · 1 September 2019French multinational utility company partnered with October to create i-DEAL, the first internal neolending engagement platform enabling employees to lend to internal business projects. Pilot launched with group of employees, extended in January 2021.
• October FactorycoreOthersWholly owned asset management company of October SA, regulated by AMF (registration GP-16000030), manages October's debt investment funds including ELTIF-labeled funds.

Scale indicators12 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Younited Credit: French marketplace credit platform connecting retail/institutional lenders with consumer and small-business borrowers. Directly overlaps with October's pan-European marketplace lending model and European brokerage value proposition.
• Funding Circle: UK-origin SMB marketplace lending platform operating across the UK, US, Germany, and the Netherlands. Directly comparable in target market (SMEs), investor structure (institutional + retail), and cross-border expansion strategy.
• iwoca: UK fintech providing working capital and term loans to SMEs using automated credit decisioning. Closely comparable to October's Instant Loans / Financial X-Ray instantiation on the SME side and a key European competitor.
• Defacto: French fintech offering embedded invoice financing and short-term credit to SMEs via a marketplace/API model. Overlaps with October on SME borrower profile and on the Brokerage / Activities Related to Credit Intermediation axis.
• Karmen: French revenue-based financing platform serving SMEs with similar loan size profile to October's Instant Loans. Direct competitor on the French SME lending front with comparable automated credit analytics.
• Mintos: European-based loan marketplace aggregating consumer and SME loans from multiple originators. Comparable marketplace structure with retail and institutional investors and a multi-country European footprint similar to October's.
• Creditshelf: German digital SME lending marketplace serving mid-market borrowers; comparable to October on European SME lending scope, institutional fund structure, and credit technology stack.
• Biz2Credit: US SME lending marketplace and credit decisioning platform for small-business borrowers. Comparable on marketplace SME lending model and B2B credit technology distribution angle.

Broad incumbents

• LendingClub: US-headquartered pioneering marketplace lending platform offering consumer and SMB loans. Broader incumbent in the same product category with overlapping business model (borrower-lender matching marketplace) but greater scale and US focus.
• Upstart: US AI lending platform selling credit decisioning to banks and originating its own loans — directly comparable to October's October Connect (BaaS credit decisioning) plus lending marketplace business model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/october_EU
• Facebookfacebook.com/october.eu
• LinkedInlinkedin.com/company/october-fr

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries1 record

Funding overview

Funding rounds8 records

Investors20 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about October