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    Reference: 20190366
    Release date: 26 November 2019

    Promoter – Financial Intermediary

    FAMOCO SAS

    Location

    Description

    The project will finance Famoco's RDI activities. Famoco is a provider of mobility mainly used for identification and payment services used accross various industries. The company designs and commercialises its own line of Android based mobile terminals, as well as a proprietary cloud-based platform to set-up and control those devices remotely.

    Objectives

    The project will finance Fomoco's investments aimed to develop new applications and to improve the range of devices and operating systems. This also includes investments into sales, production and logistics, marketing and customer service. The activities will be carried out in France and Belgium.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    EUR 20 million

    Total cost (Approximate amount)

    EUR 40 million

    Environmental aspects

    The activities included in the project concern research, development and innovation on IT services that are not specifically listed in the EIA Directive 2011/92/EU as amended by Directive 2014/52/EU and that will be carried out in existing facilities without changing their already authorised scope. An Environmental Impact Assessment (EIA) is therefore not required by EIA Directives.

    Procurement

    The project promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement

    Status

    Signed - 18/12/2019

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Belgium France Services