Here at Capital Hedge | FINTRX Platform, we’ve noted family offices’ growing interest in emerging tech and data companies. One recent development is that of Flytxt, a customer data analytics software company based in the Netherlands and in India, closing a Rs. 70-crore (approx. $10M USD) financing deal with DAH Beteiligungs GmbH, belonging to the Hopp family office in Germany. This is also the family office of the co-founder of SAP.
According to CEO Vinod Vasudevan, Flytxt plans to invest the new funds in R&D to further evolve its software product in the telecom industry and expand it to other verticals. A few years ago, family offices of the global mass media major Bertelsmann and the Dutch royals had invested a similar amount in Flytxt. Vasudevan commented that the fresh infusion of funds will help Flytxt execute its order book of more than Rs. 500 crore (approx. $77M USD).
Flytxt offers an enterprise-class customer data analytics product that can ingest, manage and analyze large volumes of moving customer data to derive actionable insights. The product has built-in applications to leverage these insights for digital customer engagement and digital services. Vasudevan mentioned that more than 50 telecom companies and other enterprises have already deployed the product in more than 40 countries.
In certain markets, Flytxt and telco partners also provide brands and agencies with aggregated and anonymized customer insights for executing targeted mobile advertising campaigns.
"The company started in 2008 with a vision to provide over 10 percent measurable economic value to enterprises using customer data analytics technology. Today, it has supplied its third generation product to more than 100 enterprises, including some of the largest telecom operators in the world," Vasudevan added.
Vasudevan remarked that the fresh investment from the Hopp family office will help the company serve customers more efficiently as well as invest in R&D, and grow faster through cloud offerings and channel partnerships.
Curious to see how the family office space can meet your cap raising needs? Take a look at what our FINTRX Asset Raising Platform can do for you.Source: http://www.thehindubusinessline.com/info-tech/family-office-of-sap-cofounder-invests-rs-70-cr-in-flytxt/article9664355.ece