SoLoMoCo invests in mobile payment services and takes a stake in Smile&Pay
SoLoMoCo makes an investment in a new card payment mobile platform in France.
Paris, December 6th 2011 – SoLoMoCo, an Internet Mobile investment holding, announced a third investment in Smile&Pay SAS.
Smile&Pay is a newly created specialist in card payment mobile service. Its flagship product, Swiff, makes it possible for small merchants and professionals in mobility, to process credit card payment from consumers with smartphones on Apple and Android platforms.
The CEO of Smile&Pay SAS, Benoit Delestre, said that "We are proud to launch in France the 1st card payment solution on smartphones and tablets. Our strategy is to propose new mobile services to merchants as an alternative to current card payment devices (POS terminals). Currently, we are recruiting our 1st 100 merchants for our beta launch next January."
SoLoMoCo CEO Minh Q. Tran said that “Smile&Pay perfectly matches with our investment strategy as it represents the MO(bile) and CO(mmerce) elements. I am confident that Smile&Pay – a new card payment smartphone in France – will help thousands of merchants to process more payments on the go in the next few months.”
SoLoMoCo’s build-up strategy is based around two concepts:
- The achievement and harmonization of synergies in its portfolio companies on three levels : financial (back office management) ; technical - with the concurrent development of mobile applications ; and commercial - with a view to making a more comprehensive package of additional applications from different companies available to clients.
- Organic and external growth: achieving a global increase in value of 10 million Euros prior to raising additional funds on the stock market or through investment funds.
About Smile&Pay
Smile&Pay is the 1st French operator of card payment solutions on smartphones & tablets with a one-stop-shop for small and medium merchants looking for a mobile and secure payment solution.
For further information go to www.smileandpay.com
About SoLoMoCo
SoLoMoCo is a specialized company in Mobile Internet. It operates as an incubator business which co-invests with Business Angels or venture capital investments for innovative start-ups with a strong potential which have strong synergies between them and helps them to federate their means. These start-ups may have to work together thereafter because of their synergies in mobile services.
For more information, visit www.solomoco.com
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