Famoco Raises €11M in Funding

famocoFamoco, a Paris, France-based provider of Android-based transactional devices, raised €11m in funding.

The round was led by Idinvest Partners, with participation from Orange Digital Ventures, SNCF Digital Ventures, BNP Paribas Développement and existing investors Hi inov, Fonds Ambition Numérique managed by Bpifrance, and Aurinvest.

The company intends to use the funds to recruit new people, open offices in Europe, Middle-East, Africa, USA and Asia, and expand adoption of its solutions.

Led by Lionel Baraban, co-founder and CEO, Famoco provides Android-based transactional solutions that enable companies to meet their digital transformation goals in the fields of cashless payment, transportation, and smart city.
Its FX Series are remotely managed devices that integrate smart card security coupled with a secure version of Android. The platform is also compatible with selected Android devices (eg. Samsung tablets) and allow businesses to deploy their business critical applications on other types of devices and manage them remotely.

The company, which also has offices in Bruxelles, New Delhi and Hong-Kong, has deployed +100,000 devices in over 30 countries and work with international groups like Orange, Gemalto, AliPay, PayPal, AccorHotels.



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