Gimv sells part of Tinubu Square stake

In addition, Gimv and Tinubu's management have reached an agreement allowing both parties to sell or purchase their stake within the next 30 months.

Gimv stated the investment had generated a positive return, though slightly below Gimv's long term average – which is thought to be around 12%. The GP is believed to be keeping a 5% stake in the business.

FSI invested €11.3m overall in Tinubu, including the purchase from Gimv and a capital increase.

Previous funding
Gimv led a €4.5m funding round for Tinubu in 2002. The GP invested €3m and secured a 20-25% equity stake in the business.

Company
Founded in 2000, Tinubu Square develops, implements and manages trade credit management solutions for corporate customers, receivables financing institutions and credit insurers.

The Issy Les Moulineaux-based company expects to post a €13m turnover in 2011 and currently employs 54 staff.

People
Jérôme Pezé is CEO of Tinubu Square. Bertrand Finet led the deal for FSI.

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