SplitGames, Europe’s leading video game swapping community, has finalised a first round of funding of €2 million, managed by Crédit Agricole Private Equity. The funds raised will enable
SplitGames to step up growth and the international expansion of its video game swapping platform, as well as to enlarge its premium service offering for video gamers.
Launched in early 2006, SplitGames allows video gamers to play more while spending less. On 1 June 2006, it won two prestigious “Clic d’or” prizes in the French online awards: the “Internet Grand Prize” in the “Selling” category and the “Public’s Special Prize”.
Philippe Corrot, one of the company’s founders, comments: “We are delighted to be working with Crédit Agricole Private Equity. We were particularly impressed by Nicolas Gagnez’s entrepreneurial experience and believe that his participation will ensure a fruitful collaboration. This investment underscores our vertical strategy, both on a paying basis and as a community. In an innovation-driven market, these funds will enable us to continue offering more innovative services for gamers while also stepping up growth in France and abroad”.
Nicolas Gagnez, Director of Investment at Crédit Agricole Private Equity, adds: “Simplicity, universality and the development of relationships, values on which the internet is built, are reflected in the services offered by SplitGames. The community system and fluid marketplace structure form a solid basis for international expansion. The work already accomplished and the skills of our founding team — Philippe Corrot, Adrien Nussenbaum and Michael Ziegler — guarantee future success”.
Crédit Agricole Private Equity contact
Nicolas Gagnez, Director of Investment. Tel: +33 (0)1 43 23 96 01 – GSM: +33 (0)6 85 92 13 40
Philippe Corrot, Co-founder. Tel: +33 (0)1 49 10 96 40 – GSM: +33 (0)6 88 822 922 – firstname.lastname@example.org
About Crédit Agricole Private Equity
Crédit Agricole Private Equity is an AMF-accredited asset management subsidiary of Crédit Agricole S.A., specialising in private equity investment in non-listed companies. A team of 40 investors operating in several areas (Later-Stage Financing & LBO, Venture Capital, Secondary Market, Mezzanine, Renewable Energies and PPP Infrastructures) manages €1.5 billion through venture and innovation funds.
Launched in early 2006, SplitGames allows video gamers to play more while spending less. SplitGames offers an innovative service with which gamers can update their games library frequently at low cost. The points value of each game is calculated automatically on the basis of its price as new, how old it is and supply and demand on SplitGames. Members accumulate points by sending games to other members and these points can be used to obtain new games. SplitGames acts as a third party by coordinating swaps on a real-time basis depending on the games wanted, availability and the member’s points. To ensure that all swaps are fully secure, SplitGames prevents fraud using its SplitSecureTM technology. SplitGames offers different payment options depending on the frequency of swaps. Rather than just a service, SplitGames is a community website on which not only games are exchanged but also information, tips and recommendations.