Clipperton, a leading European corporate finance boutique focused on high-growth technology companies today announced the completion of an equity financing totaling €11 million for FAMOCO, a leader of Android-based transactional devices, through new and existing investors. Idinvest Partners led the funding round which included new investors Orange Digital Ventures, SNCF Digital Ventures, BNP Paribas Développement and existing shareholders Hi inov, Fonds Ambition Numérique managed by Bpifrance, and Aurinvest.
Clipperton acted as sole financial advisor to FAMOCO.
Paris – February 22nd, 2017 – Leading Android-based transactional solution provider FAMOCO raised €11 million that will enable the company to meet increased demand for worldwide transactional solutions with applications in diverse fields such as cashless payment, transportation, smart city as well as the overall empowerment of large corporations to manage their digital and mobile transformation.
FAMOCO explosive growth in 2016, has been driven by its unique security solution applied to a wide array of transactions on mobile handhelds, combining a secured device running on a modified Android OS and a proprietary Mobile Device Management (MDM) platform. FAMOCO is planning to double in size this year with plans to recruit more than 50 employees and to open offices internationally in Europe, Middle-East, Africa, USA and Asia. Already present in India, FAMOCO will strengthen its local team as digitalization of the transactions is of paramount in the country.
With over 100,000 devices activated in more than 30 countries in 2½-years, FAMOCO has become a essential tool in the digital transformation of transactional solutions. For example, FAMOCO has equipped French retail outlets with the first Alipay terminal, enabling Chinese tourists to pay in France using their Alipay account.
“This funding confirms FAMOCO’s upward momentum. Since my partner Nicolas Berbigier and I created FAMOCO, we have enabled the large scale deployment of a great number of highly disruptive solutions in areas such as cashless payment, smart city and mobile workforce management” said Lionel Baraban, Co-Founder and CEO of FAMOCO.
“Idinvest is pleased to back a team of seasoned entrepreneurs in the development of FAMOCO. Supporting the international growth of this startup, who has developed a robust technology and who operates in a huge market, fits perfectly within Idinvest’s investment strategy” said Pierre-Edouard Berion, Investment Director of Idinvest Partners.
“This acquisition of equity is a logical next step, and reinforces our existing industrial partnership with FAMOCO who is involved in the deployment of Orange Money in Africa. It also underlines our commitment to accompany the digital transformation of our corporate clients with innovative solutions, and to support the international development of FAMOCO” said Pierre
Louette, Deputy CEO and General Secretary of Orange Group, Chairman of Orange Digital Ventures.
After Olfeo’s OBO in January, this operation is the second transaction in the digital security space arranged by Clipperton this year and represents the sixth transaction within the broad FinTech space in less than 18 months including recent financings of GastroFix, Bankin, Lydia and KissKissBankBank and the acquisition of Leetchi/Mangopay by Crédit Mutuel Arkéa. These achievements clearly demonstrate Clipperton’s expertise in this very dynamic sector.
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Clipperton is a European independent corporate finance advisory firm exclusively dedicated to the Technology space, advising high growth companies on M&A transactions, debt financings and equity offerings. With offices in London, Berlin, and Paris and an international reach, Clipperton is a European leader in Technology financial advisory. Over the past 15 years, the team has successfully completed more than 200 high profile transactions globally.
For more information, visit www.clipperton.net