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20/02/2017
Famoco raises €11m of funding to boost its international growth
Famoco, leader of Android-based transactional devices, today announced a €11m round of financing led by Idinvest Partners, together with Orange Digital Ventures, SNCF Digital Ventures, BNP Paribas Développement and alongside their historical investors Hi inov, Fonds Ambition Numérique managed by Bpifrance, and Aurinvest. This new round of funding will enable FAMOCO to meet growing international demand for transactional solutions in the fields of cashless payment, transportation, smart city as well as the digital transformation in mobility faced by large corporations. The startup experienced tremendous growth in 2016, driven by its innovative solution that secures transactions on mobile devices. It combines a secure Android-based device with a built-in Mobile Device Management (MDM) platform. FAMOCO plans to double in size this year with over 50 recruitments planned and will also open offices in Europe, Middle-East, Africa, USA and Asia. Already present in India, FAMOCO will expand the team in this growing market of digital transactions.

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