27 June 2013

The automated payment system developed by AxesNetwork, a Sherbrooke company, is getting investors excited: Anges Québec and the Fonds Anges Québec Capital (FAQC) are reinjecting more than $1 million in the company less than one year after the initial round of investment.

As part of this new funding, the FAQC is investing $500,000, while 17 private investor members of the Anges Québec network are contributing to the tune of $540,000.

AxesNetwork products, including a secure automated smart card payment system, are in use at hundreds of casinos around the world.

AxesNetwork “has doubled its sales twice in the last few years. This new funding will make it possible for us to support our accelerated growth by continuing our expansion in Africa and Europe,” explains Benoit Robitaille, President of AxesNetwork.

Source: Anges Québec

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FURTHER READING

» AxesNetwork receives $ 655,000 from Anges Québec

» 1 M$ from Desjardins-Innovatech for AxesNetwork