Interway nets €3m funding from BNP Paribas and BPI

It is the first time the company has received external support, following high growth in 2015 with turnover up by 49%.

BNP Paribas led the round, followed by BPI. Both investors acquired a minority stake in the company via the transaction, investing alongside the company's four co-founders and directors.

The investors' backing will help the company continue its national and international expansion, which will entail external acquisitions. Two potential target companies for bolt-ons are Adnow and Instore Digital, various media sources have reported.

Company
Founded in 1993, Interway offers IT services to businesses. It offers assistance with networks, wifi, online security and online payment methods. Interway controls around 5,000 wifi hotspots, enabling 2.5 million connections every month.

The company reported €41m of turnover in 2015, up by 49% from the previous year.

People
BPI France – Ménelé Chesnot (investment director); Julien Guillevic (senior legal counsel).
BNP Paribas Développement – Valérie Breitenstein (investment director); Gautier Harlaut (analyst).

Advisers
Equity – Advance Capital, Olivier Mortier, Lucas Reinier (M&A); Nova Partners, Olivier Nett (legal).
Company – Equideals, Marc Nougué, Jonathan Melloul, Thibaut Régnier (M&A); Haussmann Paradis, René Spadola (legal).

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• Topics
• Expansion
• France
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• France
• BNP Paribas
• BPI France
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