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Broadband

Bretagne Telecom raises EUR 20 mln to fund next phase of growth

Tuesday 12 February 2019 | 08:11 CET | News

B2B telecom service provider Bretagne Telecom has raised funds worth EUR 20 million from Bpifrance and CM-CIC Investissement, in support of its goal to double in size by 2020, reports Les Echos. Founder and CEO Nicolas Boittin has retained a majority stake in the company following the transaction, which partially included borrowing through debt funding.

Bretagne Telecom achieved annual revenues of EUR 18 million in 2018, up 20 percent year-on-year, and said that its current workforce of 70 employees is expected to increase to 150 by 2020. In 2017, the company expanded in western France with the acquisition of business services integrator Prophone. Among its main assets, the company owns a 2,000-square meter data centre located in the Breton town of Chateaubourg.




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Categories: Internet
Companies: Bretagne Telecom
Countries: France
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