FDJ to invest 13m in tech start-ups
Paris-based operator partners with private equity firm Partech International as it looks to boost innovation within its digital business
French operator la Française des Jeux (FDJ) has announced it plans to invest 13m in local tech start-ups in a bid to boost its in-house innovation and technology capabilities.
FDJ has teamed-up with tech-focused venture capital firm Partech International for the venture and will pump 5m and 8m into two technology and start-up focused seed funds owned by Partech.
The move forms part of the FDJ’s ‘2020’ campaign, a strategy designed to overhaul its digital services and provide what the firm described as a “comprehensive customer experience” across all channels.
“FDJ is a technology company with more than four billion transactions per year and more than 300 engineers, but we wish to connect more start-ups and contribute to the success of the technology sector and digital economy in France,” Stéphane Pallez, president and CEO of FDJ, said.
The partnership with Partech will see FDJ develop internal “innovation units” to focus on a number of areas of its online business such as the operator’s mobile products and assessing consumer behaviours.
“FDJ is our first corporate partner from the gaming world [and] with us has the ambition to involve its business in the digital revolution, creating complete synergy between its physical outlets and online offering,” Jean-Marc Patoillaud, Partech Ventures’ co-managing partner, said.
Partech’s investors from other industries include multinational retailer Carrefour, manufacturer Renault-Nissan and insurance company Groupama.
Earlier this year FDJ announced the launch of it 2020 strategy after revealing revenues for 2014 had increased 17% year-on-year, following the launch of new lottery products and increased sports betting activity from the World Cup.