Freqens Company Profile

Background

Freqens is a Paris-based fintech company dedicated to transforming B2B purchasing practices through a cost benchmarking solution for indirect expenses (opex). By reducing the information asymmetry that often favors sellers in B2B transactions, Freqens enables buyers to instantly spot overvalued expenses and uncover significant savings opportunities.

Key Strategic Focus

Freqens focuses on providing a negotiation intelligence platform powered by real-time price benchmarks. This solution allows businesses to centralize supplier data, compare their purchasing terms with market benchmarks, and identify savings opportunities. Users can analyze price discrepancies, track contracts, and optimize procurement processes, even with limited teams. With an intuitive interface and anonymized data, Freqens provides strategic insights typically accessible only to large corporations with dedicated procurement departments.

Financials and Funding

In July 2024, Freqens raised €3 million in a pre-seed funding round led by Seedcamp, Kima Ventures, Sequoia, and Motier Ventures. The round also saw participation from prominent angel investors such as Alexandre Yazdi and Jonathan Widawski. The funding is intended to support team growth, product development, and expansion into French and international markets.

Technological Platform and Innovation

Freqens' technology uses real-time market data and peer benchmarking to help companies achieve a simple yet crucial goal: buying at the right price, every time. By providing unique insights that are otherwise inaccessible, Freqens enables companies to evaluate their purchasing performance against the market efficiently.

Leadership Team

Maxime Liebens, Co-founder and CEO: Former Chief Strategy Officer at MakiPeople and JobTeaser.

Richard Gozlan, Co-founder and COO: Former CEO of Cleanio (acquired by Rocket Internet), and Head of Operations at Agricool and Gopuff.

Alexandre Barreira, Co-founder and CTO: Former Chief Product and Technology Officer at Ornikar.

This experienced team identified significant optimization opportunities in how companies evaluate their purchasing performance against the market, noting that the benchmarking process remains largely manual, time-consuming, and heavily dependent on individual skills and internal resources.

Competitor Profile

Market Insights and Dynamics

The B2B procurement market is characterized by a lack of price transparency and limited dedicated resources, making it challenging for SMEs and mid-sized companies to negotiate optimal conditions. Freqens addresses this issue by providing a negotiation intelligence platform powered by real-time price benchmarks.

Competitor Analysis

While specific competitors are not mentioned in the available sources, Freqens' unique approach of combining data-driven insights with a user-friendly interface sets it apart in the market. Unlike recently emerged solutions that promote outsourcing and lack neutrality, Freqens remains an independent, trusted third party, enabling companies to maintain and nurture direct supplier relationships.

Strategic Collaborations and Partnerships

Freqens has attracted several clients, including Electra, Polène, MemoBank, Homa Games, and Safran.ai. The company has also received support from purchasing experts such as Laurence Laroche (La Poste) and Florence Baiget (Veolia).

Operational Insights

Freqens enables companies to instantly know the right price to pay and to benchmark complex categories—a task humanly impossible to achieve in a matter of seconds. By remaining an independent, trusted third party, Freqens allows companies to maintain and nurture direct supplier relationships, which is key to securing the best terms.

Strategic Opportunities and Future Directions

With the new funding, Freqens aims to grow the team, invest in the development of its innovative product, and support its growth in the French and international markets. The company is committed to redefining the negotiation landscape and equipping businesses with the intelligence they need to thrive in today's competitive market.