France Pari/Sportnco - the leadingprovider of turnkey betting solutions to igaming operators in regulated markets, is pleased to announce the entry of BNP Paribas Dévelopment into its capital structure.
The agreement sees BNP Paribas Développement become a minority stakeholder in the group with a presence on the company’s strategic committee and enables France Pari to boost its investment in technology to benefit its B2B customers and prospects.
The arrival of such a major financial institution into its corporate structure is a major boost for France Pari and an additional asset that will enable it to sustain the strong growth it has experienced in recent years.
It also reflects the trust that exists between BNP Paribas and France Pari, which have been working closely together for the past 10 years.
The agreement also validates the expertise and know-how that France Pari/Sportnco has developed since the regulation of the French igaming marketin 2010. Its strategy, focused on B2B, has enabled it to become one of the European leaders in the supply and management of turnkey betting solutions for the igaming across regulated markets.BNP Paribas Développement's entry into France Pari’s capital structure is part of a long-term vision. Thegroup invests its own funds in these projects, setting out a long-term path for growth without the short-term pressures on returns that are more common in private equity-backed operations.
BNP Paribas has also established access to a €2.8m fundalongside Credit Mutuel’s ARKEA division, to which France’s public investment bank BPI France has added €0.5m, further strengthening the group's financial resources.
At a strategic level, France Pari will focus its attentions on its B2B customers and prospects and invest further in its technology to develop the best platform on the market.
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-techsector. To work with and have the support of such majorinstitutional 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."
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. "