MeilleurMobile (France) - Dec 2007

Following a Chausson Finance-run selection process which attracted two firm offers, Galileo Partners has decided to invest alone in the second round of funding for mobile telephone online retailer MeilleurMobile. As part of a €4m round, the venture capital firm invested €3.8m, with the remainder being provided by two private individuals. Galileo had previously invested €1m in the company in March 2006. No further funding should be required. An IPO within two or three years is considered the ideal scenario.

Company

Boulogne-headquartered MeilleurMobile sells mobile phones, with or without contracts, via its website. Founded in 2003, the business generated €4.7m in the year to July 2007 and is expected to reach break even shortly. The company will focus on its recurrent source of income: client relationship management on behalf of mobile operators. The firm will also aim to continue to build its brand and improve its web searchability.

People

François Duliège worked on the deal for Galileo Partners. A new COO was recently appointed to support MeilleurMobile’s founder Tanguy Pincemin, previously marketing director for Mistergoodeal.

Advisers

Equity - Chausson Finance, (Corporate Finance)

Sourced from: France unquote" 87 (Jan 2008)

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