Xee, the connected service platform reinventing the way drivers use their cars announced it has raised above €12 million from Bridgestone, Total and Cofip who joined existing investor ViaID.
Clipperton acted as exclusive advisor to Xee.
Paris – May 17, 2017 – Leading European corporate finance firm Clipperton is proud to announce it acted as financial advisor to Xee in structuring a financing round of more than €12 million aiming to fuel the company’s growth and to accelerate the deployment of its disruptive platform throughout Europe. Founded in 2012 by ViaID, the start-up accelerator of Mobivia Group, Xee thrives on the €335 billion European car market, by enabling businesses to offer next-gen services to car drivers on any type of vehicle (pay as you drive, pay how you drive, geolocation, safety and alerting, communication with smart cities & smart homes…) or to manage their fleets of vehicles thanks to a connected and real-time approach (monitoring, analysis…).
This fundraising from Brigdestone, Total & Cofip is a new step in the growth story of Xee which experiences by a strong sales and marketing momentum, and has demonstrated its capacity to repeatedly introduce innovations on market and to onboard of its platform tier-one industrial players in automotive, aftermarket or insurance, willing to offer value-adding mobility services to their clients. Xee successfully initiated its European roll-out in 2016 and is already trusted by leaders such as Midas, Indigo and Axa who have built and integrated connected cars services in their business model thanks to Xee’s data management platform. The company will now consolidate its leadership position in Spain, Portugal, Italy and Belgium and will expand further in Europe by deploying its solution in Germany, the Netherlands and Luxemburg.
Yvan Gravier, CEO of Xee, said: “This fundraising is key milestone in the development of Xee: on top of the investment itself, the industrial, technical and commercial synergies that will be created will open new opportunities for the company”. Yann Marteil, CEO of ViaID and Deputy Managing Director of Mobivia added: “As of today, we are proud to have enabled the emergence of a company which stands as a European leader in its field and will be enriched by many other financial and industrial collaborations.”
The closing of the transaction demonstrates Clipperton’s capabilities in structuring acceleration rounds for technology leaders and its specific expertise in accompanying start-ups leading the profound transformations of the car eco-system. Thomas Neveux, the partner in charge of transaction commented: “We had been following Xee since its early years, convinced by the company’s technology advantage and differentiation compared to other solutions on the market. We are glad to have contributed to the development of Xee by giving the company the means to achieve its European ambitions”.
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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