Banexi Ventures injects €1.2m into Netwave

The two parties initiated contact 18 months prior to the transaction, with Banexi Ventures advising Netwave it wouldn't invest immediately but would consider doing so at a later date. The VC and the company proceeded to work on a potential strategy before committing to a funding round.

Netwave had hitherto been backed by business angels and had notably raised €900,000 in Q3 2014. The company will now aim to bolster its management team with several hires before focusing on testing its targeting and re-targeting technology. The business is looking to double its turnover in the coming year.

Company
Established in 2010, Netwave specialises in behavioural big data analysis for online retailers. The company claims its technology can significantly improve conversion rates on e-commerce sites.

Based in Labège, Netwave employs around 19 staff and posted a €1m turnover in 2013, while still being loss-making.

People
Philippe Herbert worked on the deal for Banexi Ventures Partners.

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