Tunis based Vneuron completes second fundraising for expansion to new markets

TUNISIA – Vneuron, a Tunis-based company that specializes in software development and IT services, has just completed its second fundraising from Tunisian American Enterprise Fund (TAEF), to conquer new international markets.

Tunisian American Enterprise Fund (TAEF) is fully a funded US$100 million fund, backed by the U.S. Agency for International Development (USAID) for a 10-year term after the fifth year. TAEF expects to actively invest through 2027, at which point it would begin a period of winding down through exits and dis-investments.

Vneuron did not disclose the exact amount involved in this round of investment. The investment follows a previous one in 2017 from Africinvest — which was Vneuron’s first first fundraising round.

Founded in 2007 by Fateh Bel Hadj Ali, the Executive Partner, Vneuron is a software publisher and one of the leading players in digital transformation, risk management and regulatory compliance as well as operational excellence for banks, insurance companies, credit institutions, corporations, asset management, stock market intermediaries, public administration, mass distribution and health.

Vneuron solutions help institutions to effectively manage, in an integrated and end-to-end manner, the process of entering into relationships on digital and conventional channels, as well as compliance with regulations and the automation of business processes.

It specializing in digital experience and regulatory compliance. It is a recognized player in automating Know Your Customer (KYC) processes and delivering advanced anti-money laundering (AML) technologies.

By accelerating compliance and improving operational efficiency, Vneuron’s solutions help onboard customers quickly, improve market shares and improve the overall experience of customers and partners.

Vneuron is present in Europe, Africa and the Middle East through operations with more than 200 clients in 28 countries.

The Tunisian American Enterprise Fund (TAEF) was born from an initiative of the American government in the aftermath of the “Arab Spring” in 2011, with the objective of helping to broaden the economic possibilities of employment in Tunisia, catalyze investments, promote a boost private sector development and support inclusive economic growth.

Currently endowed with a contribution from the American State of 100 million dollars, TAEF is committed to supporting small and medium-sized enterprises (SMEs) in Tunisia.

TAEF’s investment approach is based on “Smart Capital”: by adapting innovative financing mechanisms to the needs of Tunisian entrepreneurs in order to stimulate innovation and create impact across many dimensions – social , geographical distribution, gender and youth inclusion, governance practices and value creation. “Smart Capital” produces financial returns and development.

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