Famoco (IFC-41346)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 3, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
FAMOCO SAS
The holder of the loan, grant, or other investment.
Sectors
  • Communications
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 14.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 6, 2019

Disclosed by Bank May 3, 2019


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Project Description

According to bank documents, the proposed project is an equity investment of US$5 million into Famoco, a Paris-based tech company that has developed and deployed proprietary hardware and software solutions to address the needs of large-scale mobile money agent networks and merchants in developing markets for the digitization of payment transactions. IFC investment will be part of an investment round of up to US$14 million to fund the international expansion of Famoco in Africa.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Founded in 2010, Famoco has developed and deployed proprietary hardware and software solutions for the digitization of payment transactions. Famoco offers a complete range of dedicated devices, based on a secure Android OS, and connected to a Mobile Device Management platform. It facilitates application deployments and secures data capture for mobile workforce management, mobile payments, urban mobility and identity verification (KYC). To date, the company has deployed more than 200,000 devices in over 30 countries.

Post IFC’s investment, Famoco’s shareholding structure will be as follows: Lionel Baraban (CEO), Nicolas Berbigier (President), ID Invest, IFC, BPI France, AurInvest, Hi-Innov, Orange Digital Ventures, Fast Forward, Employees.

Contact Information

Famoco SAS 
Mr. Lionel Baraban 
CEO 
+33 66614591 
l.baraban@famoco.com 
16, rue des Blancs-Manteaux, 75004 Paris, France 
www.famoco.com 

ACCOUNTABILITY MECHANISM OF IFC

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