French Famoco, a near-field communications (NFC) specialist, has just raised €11 million euros. The investment comes from Idinvest Partners, Orange Digital Ventures, SNCF Digital Ventures, and BNP Paribas, along with existing investors Hi inov, the Ambition Numérique Fund and Aurinvest. The startup plans to recruit more than 50 people in 2017, and is preparing to open new offices in Europe, the Middle East, Africa, the USA and Asia.
Famoco has developed a secure, Android-based NFC reader, adaptable to all markets and needs. The solution enables its users to manage multiple transactions per day, to recharge prepaid or transport cards, or to manage buying and selling flows during events.
The new funding should enable the company to accelerate the development of new transactional solutions where there is great demand for them, especially in the fields of payment, transport, and smart city applications.
Famoco is present in more than 30 countries, including France, Belgium, China and India, in which it is particularly active. The startup now has nearly 200 customers including Google, Gemalto, and Orange.
Read more: Maddyness(French)