For the record, it was JDC that mentioned the idea of the "electronic safe" to PKM, which in 2007 had HEC-Entrepreneurs students working on entrepreneurial projects. It was Jonathan and Clement who turned this student project into a real company, called Novapost at the time, focusing on pay slips.

ISAI studied the opportunity to invest at the end of 2009/beginning of 2010 when ISAI did not yet have any funds. It could have been the first ISAI deal but... the marketing was long and difficult, a lot of capital was needed to scale it up and the subsequent refinancing was far from obvious... in short, it was not the typical ISAI deal we sold to our underwriting entrepreneurs. No "B2largeB" for a first ISAI investment.

We decided to pass on the opportunity: And yet...
Big up to Jonathan and Clement who have built a great SaaS company! Congratulations to Fa Dièse who invested as early as 2007, hats off to Charles from Alven and PKM who believed in them back in 2010-2011, congrats to Philippe at Accel who allowed them to accelerate internationally in 2014!