Paris — October 31, 2000— Bryan, Garnier & Co (www.bryangarnier.com), an independent investment bank specialising in European growth companies, announced today that it has led the placement and the syndication of a €12 million second round of equity financing of DoubleTrade (www.doubletrade.com). DoubleTrade offers a software platform for managing and processing bids that allows companies registered with DoubleTrade to create and publish calls for tender and to respond to such bids within legal and regulatory constraints. Thanks to this platform, which is available in six languages and delivered as an ASP, buyers can rationalise and automate their calls for tender. In the same way, suppliers can look at private and public European bids across 90 business areas and answer online to opportunities they detect.
New investors of this round are ING Barings and the independent venture capital company InnovaFrance. Previous investors also participated in this round of financing, including CDC Innovation, Apollo Invest and SI Venture (affiliated member of the Gartner Group).
Bruno Husson, Bryan, Garnier & Co’s Managing Director, Corporate Finance said: “Amongst the numerous European companies involved in internet transaction platforms, DoubleTrade is one of the few to possess two key elements of success: (i) a neutral stance between buyers and sellers due to its shareholders’ structure and, (ii) significant liquidity (large transaction volumes) due to rich content and first class partnerships. Furthermore, as it relies on a technology that is entirely Internet based, DoubleTrade can be very easily implemented within large companies that will have at their immediate disposal a very powerful productivity tool. Thanks to this round of financing, DoubleTrade will be able to develop new functionalities and reinforce its presence in Europe”.
This placement enhances Bryan, Garnier & Co’s leading position in the syndication of later stage private placement for Technology companies in Europe. Thanks to a team that unites experienced investment bankers and former venture capitalists, Bryan, Garnier & Co has developed a strong expertise in international equity fund raising for High Tech companies.