Odoo: supporting the growth of a company that’s breaking the mould

In the space of barely fifteen years, Odoo has carved out a prime position in its sector. Basing its products and services on open source development, this young company, headquartered in the Walloon Brabant municipality of Ramillies, today does business on several continents and employs over 1,000 people worldwide. Odoo doesn’t do things the same way as other firms – and that includes its approach to banking.

BNP Paribas Fortis recently came up with solutions to two essential requirements for Odoo’s growth: carrying out a restructuring of its shareholder base; and making sizeable real estate investments in local farms in Brabant – one of the hallmark features of the company, which focuses a considerable part of its business there – plus also a major extension project at Louvain-la-Neuve.

Disruption

"Odoo is a disruptive company that tends to shake up the norms on all fronts. This prompts us to think about our business as bankers,” says Jean-François Pierreux, Odoo’s Relationship Manager at BNP Paribas Fortis. He points out: "The company has a positive attitude. It keeps moving forward, it sees the big picture, and it hires people. It’s also pursuing its impressive growth in spite of the health crisis. So it’s our job as bankers to find innovative solutions to the firm’s financial needs and provide them with real added value.”