CAPZA Growth Tech acquires majority stake in Web Geo Services
CAPZA has acquired a majority stake in Web Geo Services, a French API platform publisher and Google Maps’ partner operating in the booming “Location Based Services (LBS)” market.
Founded in 2009, Web Geo Services has built its reputation by becoming the Google Maps No1 Partner and reseller of Google Maps Platform in Europe. The company focuses on five sectors: Retail, Finance, e-business, Smart Mobility, and Travel & Hospitality.
Web Geo Services has also developed its own proprietary platform, “Woosmap”, a set of independent APIs dedicated to B2B2C business use cases: store locator, geofencing, data search, payment transaction cleaning, etc.
Web Geo Services is based in Montpellier, where its R&D centre is located. The company operates in 8 countries with offices in Paris, London, Amsterdam, Berlin, Milan, Madrid, Mumbai and Singapore. With a turnover of about EUR25 million in 2020, Web Geo Services has experienced a strong organic growth in recent years. The company has over 440 clients and currently employs 61 people.
Led by its two founders, Mathias Fliti and Jean-Thomas Rouzin, Web Geo Services has developed a competitive and differentiated LBS offering much appreciated by its customers. The company also benefits from a strong employer brand thanks to a meaningful working environment.
With CAPZA’s support, Web Geo Services’ ambition is to develop new clients use cases thanks to Woosmap, especially through AI features, and to potentially acquire companies with technological and geographical add-ons. The goal for Web Geo Services is to become the global leading location-based services API platform serving Woosmap and Google Maps Platform.
“We have built a solid & trustworthy relationship with Mathias & Jean-Thomas and share a common vision of the roadmap. Web Geo Services shows great potential thanks to its solid positioning on the booming market of geolocation intelligence and a very high level of customer satisfaction”, says Raphaël Horreard, Partner, CAPZA Growth Tech.
“Location intelligence is increasingly recognised as a key digital tool for the physical and online assets of companies. Technology is evolving fast, enabling to constantly offer new productive location-based services. We have chosen CAPZA Growth Tech for their ability to support us as a real partner, and to accompany the step-up of our technological edge as well as the success of our international expansion,” says Mathias Fliti and Jean-Thomas Rouzin, founders, Web Geo Services.
“We have supported Web Geo Services since 2012 and we are very pleased to have accompanied them during this key development milestone. The company has a solid market positioning, and we are happy that CAPZA & IRDI are taking the lead to support the management team in their exciting roadmap to become a leader in location intelligence,” says David Manjarres and Ludovic Denis, Partners, Seventure Partners, Yvan-Michel Ehkirch, Managing Partner, Karista.
CAPZA enters the Group’s capital as a majority shareholder, alongside IRDI Capital Investissement, an investment fund based in southwest of France and historical shareholder of the company, which has decided to reinvest in the operation. The Web Geo Services’ management team will reinvest their full proceeds in the company. Other historical financial shareholders (Seventure Partners and Paris Region Venture Fund managed by Karista) are fully exiting during the operation.
This is a new transaction of CAPZA Growth Tech4 which is currently under fundraising.