Idinvest in €100m funding round for Deezer

The round was led by Access Industries, the owner of Warner Music. Deezer previously received €15m in financing over two rounds involving venture capitalists Idinvest and CM-CIC Capital Privé, as well as investor Dotcorp Asset Management. Telecom company Orange is also invested in Deezer.

The company reportedly plans to use €25m to buy back some shares and spend the remainder on global expansion.

Company
Based in Paris, Deezer is an ad-supported online music website where subscribers are able to stream music for free. The service is currently available in more than 90 countries throughout Europe, South America, South-East Asia and Australia and is looking to launch in Western Africa, Northern Africa and Canada. The company was founded in 2007.

Advisers
Company - Cleary Gottlieb, Pierre-Yves Chabert, Guillaume Roche, Xavier Belot, Anne-Sophie Coustel, Jean-Charles Benois (Legal, tax).

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• Topics
• France
• Technology
• Expansion
• France
• IDInvest Partners (AGF Private Equity)
• CM-CIC Capital Finance