Ticket Surf International (TSI), a French provider of e-money services, has received an equity investment from AXA Private Equity, as part of an owner buy-out.
With the investment, AXA has acquired a 25% stake in the company.
Ticket Surf International intends to use the proceeds to reinforce its position in the French online gaming market expanding its international operations and penetrating in the e-commerce sector by launching a prepaid MASTERCARD and an electronic wallet. It was the first company to be authorized as an e-money issuer by the Banque de France, a status that enables it to market its products throughout the EU.
Spun off from Orange in 2005 by the founder and director Gilles Moro, TSI provides prepaid cards for online gaming in over 20 countries.