Investors Secure GAC Technology Expansion Plans

To extend its strategy internationally, the fleet software publisher GAC Technology has attracted two investors. The Lyon-based company has signed an agreement with the development capital fund NewAlpha Verto and has also renewed its partnership with Bpifrance.

To support its strong growth ambitions, GAC Technology has succeeded in obtaining the necessary financing. The software publisher’s objective is to become the European leader in web management solutions for services such as vehicles, real estate and other company assets. NewAlpha Verto and Bpifrance have taken a stake in the French SME, the latter supplemented by ARR financing.

As part of this operation, the two new majority shareholders replace the historical shareholders, with CEO Matthieu Echalier retaining 34%. But GAC Technology reminds that the reorganization of its shareholding does not affect the daily work of the teams.

The investors want to support GAC Technology’s international expansion plans and help increase product development at its headquarters in Lyon. The two partners see significant potential for the French company. “We were impressed by GAC Technology’s ability to understand its customers in order to develop and enrich tools considered to be the most advanced on the market”, comments Camille Laurent Lagarde, Investment Director at Bpifrance.

GAC Technology helps manage car fleets in more than 25 countries, mainly in Benelux since 2016, in Italy since 2018, in Spain since 2019 and more recently in Switzerland. On its LinkedIn page, the company posted three months ago that it had passed the milestone of 400,000 cars tracked by its CAC Car Fleet application.

Image source: GAC Technology

Mary I. Bruner