French sports betting technology incumbent France Pari has boosted is capital structure, confirming that multi-national investment bank BNP Paribas has acquired a minority shareholding in its business.
Updating the market, France Pari governance confirms that BNP Paribas’ enterprise investment unit ‘BNP Paribas Developpment’ has undertaken a €2 million investment in the company, with proceeds used to enhance its B2B Sportnco division.
Founded in 2010, France Pari’s Sportnco B2B entity seeks to become the leading player in industry supply-&-management turnkey sports betting solutions, targeting growth within newly regulated markets.
Hervé Schlosser, President and founder of France Pari, said: “The arrival of BNP Paribas Développement into our corporate structure is extremely positive and we are delighted about it. It will enable us to provide an even better service to our current and future B2B customers in this high-tech sector. To work with and have the support of such major institutional investors is also a strong signal of the progress the French igaming industry has made in recent years as it reflects the attractiveness and long-term potential of our sector.”
Supporting France Pari’s growth strategy, BNP Paribas has also established access to a €2.8m venture fund assisted by Credit Mutuel’s ‘ARKEA division’, in which French public investment bank BPI France will contribute €500,000 of capital.
Emmanuel Del Agua, Head of Investment at BNP Paribas Développement, added: “The remarkable work that France Pari has accomplished over the past 10 years has enabled it to develop first-rate technical expertise in France and internationally and to become a leader in its sector. Our entry into the group’s capital is a further sign of the confidence we have in the future of France Pari/Sportnco”.