Efectivox Raises €4.5M in Capital

Existing shareholders of Efectivox, a Spanish company that specializes in the treatment and transport of values (and formerly known as Blindados Grupo Norte, have subscribed a €4,5m capital increase.
The increase was subscribed by Vector Capital, SCR (venture arm of Caixa Penedès), Caja España-Duero and Banca Cívica, which each own an equal 27,67% stake in the company, as well as Grupo Norte.
The new capital will support the company’s efforts to expand nationwide during the next two years, and double its turnover, which amounted to €14m in 2010.
Efectivox, which recently opened a logistic facility in Murcia, offers an 80% cover of the Spanish market. 
Led by Director General Julio J. de la Sen, the company provides clients, mainly financial institutions and companies, with services to collect and transport money, jewelry, artworks, and others, which are delivered through a fleet of over 60 armored vehicles.

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