Mobile services company CM.com receives €10 million loan from European Investment Bank

jkeane90@gmail.com

CM.com, a Dutch mobile services firm, has received a loan worth €10 million from the European Investment Bank. The terms of the loan, such as repayment, have not been disclosed.

The company, which develops communications and ID software, will use the new funds to invest in R&D for new messaging, payments, and security products including its central platform dubbed One Platform – a single place for accessing messaging, payments, voice and digital identification – as well as building a new platform for IoT applications.

The financing from EIB comes via the European Fund for Strategic Investments (EFSI), part of the Investment Plan for Europe of the European Commission.

CM.com is the first company of its kind to receive this funding from the EIB, said CEO Jeroen van Glabbeek.

“We’re implementing an investment programme relating to research and development for incremental, radical and process innovations and related capital expenditure,” he commented. “This is part of a larger investment plan for the coming years. With it, we will be focusing on a fully integrated multifunctional platform for messaging, telephony, payments and access.”

“If we want the EU to be a tech leader, then we have to encourage our companies develop bold ideas and ensure they receive financial backing,” added Andrus Ansip, European Commission vice president. in charge of the Digital Single Market. “This is exactly what today's transaction aims to achieve. Strengthening cybersecurity in Europe is one of the Commission’s priorities and CM.com is contributing to this objective.”

Earlier in 2017, CM.com acquired Utrecht-based payments processing company Docdata Payments.

Share this:
Share on linkedin
Share on facebook
Share on twitter

Get exclusive access to news, data and actionable insights on the European Tech innovation ecosystem(s)

By subscribing to Tech.eu, you gain instant access to curated European technology news, market intelligence and interviews with leading startup founders, investors and more. Sign up now in under a minute to deepen your knowledge on the European Tech innovation ecosystems on a daily basis.