Investors secure GAC Technology’s expansion plans
To expand its international strategy, fleet software publisher GAC Technology has attracted two investors. The Lyon-based company signed an agreement with the growth equity fund NewAlpha Verto and also renewed its partnership with Bpifrance.
To support its strong growth ambitions, GAC Technology has successfully secured the necessary funding. The software company’s objective is to become the European leader in web management solutions for services such as vehicles, real estate and other corporate assets. Both NewAlpha Verto and Bpifrance have taken a stake in the French SME, the latter complemented with an ARR financing.
As part of this transaction, the two new majority shareholders replace the historical shareholders, with CEO Matthieu Echalier retaining 34%. But GAC Technology points out that the reorganisation of its shareholders doesn’t affect the day-to-day work of the teams.
The investors want to support the international expansion plans of GAC Technology and help to increase product development at its home base in Lyon. Both partners see significant potential for the French company. “We have been impressed by GAC Technology’s ability to understand its customers to develop and enrich tools considered the most successful on the market,’ commented Camille Laurent Lagarde, Investment Director at Bpifrance.
GAC Technology helps managing car fleets in more than 25 countries, mainly in the Benelux since 2016, in Italy since 2018, in Spain since 2019, and more recently in Switzerland. On its LinkedIn page, the company posted three months ago that it has surpassed the milestone of 400 000 cars monitored by its CAC Car Fleet application.
Image Source: GAC Technology