Gimv and Iris invest €15m in Alven-backed Planetveo

Following the round, Gimv and Iris will own controlling stakes in Planetveo. The fresh capital injection of €15m was split equally between the two new investors.

Alven is not believed to have invested in this funding round, but remains a significant shareholder in the company alongside Planetveo's founders, Geoffroy de Becdelièvre and Mathieu Bouchara, as well as other members of the management team.

Previous funding
Alven initially invested in Planetveo in June 2008, according to unquote" data. The firm committed €2.5m to the company and followed its initial investment with a further €1m injection in May 2011.

Company
Planetveo was founded in 2007. The company is headquartered in Paris and currently employs 170 staff. In its first year of trading in 2008, Planetveo generated revenues of €1m. The company recently reported turnover of €42m for 2012, an 83% increase from 2011.

The company operates as an online travel agent and provides personalised, long-haul holiday packages to Asia, Africa, the US and the Pacific.

People
Geoffroy de Becdelièvre, Mathieu Bouchara and Francis Reversé are the founders of Planetveo. De Becdelièvre is also the company's president. Geoffory Dubus and Erik de la Rivière are partners at Gimv and Iris respectively. Charles Letourneur, a co-founder and managing partner at Alven, manages Alven's investment in Planetveo.

Advisers
Equity – KPMG, Jean-Philippe Chiarasini, Vincent Delmas, Yoann Lefort (Financial due diligence); STC Partners, Christian Couderc, Christine Le Breton, Corine Diez (Legal, tax, social due diligence); Chammas & Macheteau, Denis Marcheteau, Camille-Maya Hurel, Jérôme Chapron (Legal).
Company – GP Bullhound, Guillaume Bonneton, Sasha Afanasieva, Malcolm Ferguson (Corporate finance); Gide Loirette Nouel, Pierre Karpik, Sophie Abdribet (Legal).

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• Topics
• France
• Expansion
• Consumer
• France
• Gimv
• Iris Capital (Part’Com)
• Alven Capital