Investment & Fund Management
Bastien secured an EU-guaranteed loan through the French bank
Full Credential Description
AppStud, a mobile applications development company based in France, faced a significant challenge in financing the growth of their innovative analytics tool, Azot. This tool was designed to analyze user interactions within mobile applications, providing developers with insights into whether their app interfaces were being understood and utilized as intended. The founder, Bastien Rassat, recognized the need for substantial investment to support the research and development of Azot, particularly for its initial launch on iOS and subsequent adaptation for Android.
To address this financing challenge, Bastien secured an EU-guaranteed loan through the French bank Groupe BPCE, backed by the European Investment Fund (EIF) under the Investment Plan for Europe. This funding was crucial as it allowed AppStud to focus on their project without the distractions and potential ownership dilution that would have come from seeking investment from business angels. Bastien noted that without the InnovFin loan, the release of Azot would have been delayed, which is critical in the fast-paced mobile sector.
Since obtaining the loan, AppStud has successfully expanded its team by hiring four additional engineers, increasing their workforce to a total of 15. This growth not only facilitated the development of Azot but also positioned AppStud to better meet the demands of their high-profile clients, including Airbus, Nespresso, and LVMH. The tailored financial solution provided by the EIF enabled AppStud to accelerate their innovation and maintain a competitive edge in the mobile application market.