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.
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.
