Investee Company – Xelector
Investee Company Business Type – Provider of white label marketplaces
Type of Financing – Expansion
Equity Providers – Morgan Stanley, Vertex Management, Invision AG, XL-Venture and Overseas Union Bank
Equity Leader (Individual) –
Debt Providers –
Debt Type –
Debt Leader (Individual) –
Equity Amount – €3.8 million
Total Deal Value – €3.8 million
Other Advisors – n/k
Comments – Xelector, a leading provider of marketplaces for financial services and utilities products, has secured a €3.8 million third round of financing from a consortium of investors. Existing investors Morgan Stanley, Vertex Management, Invision AG, XL-Venture and the Overseas Union Bank have all participated in this latest round of funding.
Founded in 2000, Xelector operates on-and off-line marketplaces which enable companies to offer their customers the ability to compare, select and buy personal loans, travel insurance, electricity and more. Companies can add Xelector’s Marketplaces to their businesses to generate new revenue and increase customer loyalty.
The funds from this latest round of investment will be used to further develop Xelector’s marketplaces (insurance products, credit products and energy), its software and service capabilities, and to take the company through to profitability in 2002.
Commenting on the investment Xavier Azalbert, CEO of Xelector, said: “This is a significant signal to the market. We are delighted to have secured funding to further develop Xelector. In an incredibly tough market for fund raising we have proven our credentials by continually adapting the company and earned the recognition of our clients as a true provider of white label market places.”