Novalto (France) - Dec 2007

Turenne Capital (TC) has led the third round of funding in employee incentivisation business Novalto, alongside Sopromec. In a deal intermediated by Multeam, TC provided €750,000, while Sopromec, a firm which recently spun-off from Natixis thanks to private backing, injected €500,000. Business angel Philippe Marcel also invested €70,000 as part of this deal. In 2005, CIC Banque de Vizille and TC provided €1m, while Rhône-Alpes Création backed the company’s initial funding. No further funding should be required.

Company

Novalto negotiates and provides discounts on a range of activities and products to its clients’ employees, accessible at home via digital television. Based in Montmelian in the Rhône-Alpes region, the business employs 48 staff and saw its revenues increase by 100% in 2006. The company is aiming to open four new agencies across France by the end of Q1 2008 and recruit around 30 sales professionals.

People

Marc Meneau worked on the deal for Turenne Capital, while Stéphane Roy and Patrick Grumelart were in charge for Sopromec. Sylvain Bianchini is Novalto’s chairman.

Sourced from: France unquote" 87 (Jan 2008)

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