CM-CIC provides €3m round to Okko Hôtels

The Paris-based investment firm had already provided €1.5m in funding to the chain back in 2014, enabling it to open up branches in Nantes, Grenoble and Lyon.

This new funding round will help the group speed up its expansion, with planned openings in Rueil Malmaison, Cannes and Bayonnes, and construction projects in Paris, where the management is hoping to launch its activity in 2017.

Previous funding
In 2014, CM-CIC provided €1.5m in funding to Okko. This followed up from a first funding round from 123Ventures and BNP Paribas/Arkea in 2012.

Company
Headed by co-founder and CEO Olivier Devys (previously employed at AccorHotels Group), Okko is a mid-market luxury business and leisure hotel company.

Headquartered in Paris, it recorded turnover close to €8m in 2015.

People
CM-CIC Investissement – Amaury Leleu (investment director); Philippe Traisnel (executive director).

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• Topics
• Expansion
• France
• Consumer
• Venture
• France
• Credit Mutuel Equity (ex CM-CIC Investissement)