Renaissance PME and Swisscom Ventures invested in beqom SA
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The Renaissance PME Foundation and Swisscom Ventures have completed a financing round in the Swiss company beqom. Beqom, founded in 2009, is a global software provider headquartered in Switzerland.
Beqom provides a unified compensation management software solution dedicated to large, global companies. The goal of the financing is to assist beqom in its rapid growth on a global scale. Beqom has achieved triple-digit average annual growth over the last five years by establishing a strong presence in over 10 different countries across Europe, North America and Asia. The financing round was closed end of July.
“We have chosen to work with Vinci because they understood our DNA right away,” commented Fabio Ronga, CEO of beqom. In addition, “choosing a Swiss investor also allows us to continue to cultivate our uniqueness – compared to our North American competitors – which has served us very well so far”.
“As part of its strategic partnership with Renaissance PME to finance Swiss SMEs, It was important for Swisscom Ventures to join this financing round, particularly as Swisscom is already a beqom customer”, emphasized Mr. Dominique Mégret, head of investment activities at Swisscom Ventures.
“This investment in beqom fits perfectly with the investment strategy of Renaissance PME, which focuses mainly on the financing of unlisted Swiss SMEs whose longer-term financial future has already been secured. These financing operations apply not only to high-growth companies like beqom, but also to family successions or management buy-outs (MBO),” pointed out Mr. Claude Suard, Managing Partner at Vinci Capital, the sole manager of the Renaissance PME Foundation.
Based in Switzerland, beqom publishes a unified compensation management software package dedicated to large, global companies. With about 10 subsidiaries around the world, beqom earns the vast majority of its revenues internationally, the United States currently being its largest market. The company has about a hundred clients and around one million users in the world. In Switzerland, the 3 telephone operators use the beqom platform to manage the compensation of their employees and in some cases of their outside workers as well. At the international level, Microsoft in the United States, BNP Paribas in France and Vodafone in the United Kingdom are doing the same thing, deploying the beqom platform globally.
Several of beqom’s founders were trained at HEC Lausanne before embarking on international careers, during which they founded a start-up in the United States sold to SAP in 2007.
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