BNP Paribas Développement enters France Pari capital structure

The arrival of BNP Paribas Développement will enable further B2B growth and investment in tech and platform to benefit customers and prospects

France Pari/Sportnco - the leading provider of turnkey betting solutions to iGaming operators in regulated markets, is pleased to announce the entry of BNP Paribas Dévelopment into its capital structure. The agreement sees BNP Paribas Développement become a minority stakeholder in the group with a presence on the company’s strategic committee and will enable France Pari to boost its investment in technology to benefit its B2B customers and prospects.

The arrival of such a major financial institution is a major boost for France Pari and an additional asset that will enable the corporate structure to sustain the strong growth it has experienced in recent years. This news also reflects the trust that exists between BNP Paribas and France Pari, which have been working closely together for the past 10 years.

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The agreement also validates the expertise and know-how that France Pari/Sportnco has developed since the regulation of the French iGaming market in 2010. Its B2B-focused strategy has enabled it to become one of the European leaders in the supply and management of turnkey betting solutions for iGaming operators across regulated markets. At a strategic level, France Pari will focus its attention on its B2B customers and invest further in its technology to develop the best platform on the market.

BNP Paribas Développement's entry into France Pari’s capital structure is part of a long-term vision. The group will invest its own funds in this project, setting out a long-term path for growth without the short-term pressures on returns that are customary in private equity-backed operations. BNP Paribas has also established access to a €2.8m fund alongside Credit Mutuel’s ARKEA division, to which France’s public investment bank, BPI France, has added an additional €0.5m - further strengthening the group's financial resources.

Hervé Schlosser, President and founder of France Pari, said: "The arrival of BNP Paribas Développement into our corporate structure is extremely positive and we are delighted about it. It will enable us to provide an even better service to our current and future B2B customers in this high-tech sector. To work with and have the support of such major institutional investors is also a strong signal of the progress the French iGaming industry has made in recent years as it reflects the attractiveness and long-term potential of our sector."