Anges Québec and the FAQC inject more than $1M in AxesNetwork
Sherbrooke, June 13th, 2013 - The momentum generated by Sherbrooke-based AxesNetwork has enabled it to conquer new markets and the confidence of Anges Québec investors who, less than one year after the first round of investment, have chosen to renew their financial support b completing a second round of financing of over $1M. Of this amount, $500K comes from the Anges Québec Capital Fund and $540K from 17 private member investors of Anges Québec, including Philippe Bergeron who led the project.
AxesNetwork has developed and marketed a secure, automated smart-card payment system for casinos and gaming houses. This system also includes profitability management applications that generate statistics on frequency of use of gaming machines and measure their performance. “AxesNetwork has experienced extraordinary global expansion in a short time, even exceeding our expectations. The 17 angels involved in this project from the beginning were very enthusiastic and optimistic about continuing the adventure,” says Philippe Bergeron.
Benoit Robitaille, President of AxesNetwork, specified: “Our business has doubled its sales figures twice in the last few years. This new financing will enable us to sustain this accelerated growth rate by continuing our expansion in Africa and Europe.” Backed by strong demand, products developed by AxesNetwork are already used in several hundred casinos around the world and offer the advantage of reducing operating costs while enhancing the return and security of these establishments.
About Philippe Bergeron
President and founder of Uniktour, Philippe Bergeron sold his business to Voyageur du Monde, the world’s largest long-haul travel group. He actively works for the democratization of space travel as an alternative method of transportation and is among the first passengers in the world to participate in a suborbital flight. Philippe also invests in various startup companies in the field of e-commerce.
About Anges Québec
Anges Québec is a network of 125 private investors that identifies finances and coaches innovative Quebec enterprises with high growth potential. Anges Québec members invest their capital and expertise in the most promising startup companies. In this capacity, Anges Québec works closely with a number of key Quebec organizations interested in the development and growth of technological innovations.
About Anges Québec Capital
Created in 2012, the Anges Québec Capital Fund totals $30M, of which $20M in funding comes from the government of Quebec, through Investissement Québec, and $10M from the angels. The fund is dedicated to innovative Quebec businesses in the startup phase, giving them a more substantial financial foundation by adding to the investments made by Anges Québec members.
For more information about the Anges Québec network, go to www.angesquebec.com
An English version is available online at www.angesquebec.com/en/nouvelles
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