Araxxe

Araxxe has opened its capital to Crédit Mutuel Innovation and Société Générale Capital Partenaires. The specialist in fraud detection and invoicing error solutions for telecoms operators is raising 6 million euros to accelerate worldwide commercial rollout.

The company was set up Lyon in 2005 by Xavier Lesage, Christophe Scholer and Mehdi Bencheqroun, offers patented fraud detection and invoicing error software to telecoms operators all over the world.

Araxxe deploys its supervision technologies using an AI-enhanced software offer on the only existing worldwide network, which uses more than 300 robots and operates in 180 countries. The network is controlled from the operational center based in Lyon and means that the company can provide supervision services 365 days a year, 24 hours a day, without affecting customer IT systems. The data collected by these call processors is processed using AI algorithms developed by Araxxe. They allow invoicing anomalies and interconnect fraud to be detected, and then communicate them in real time to the operator.

The company has a client base including the biggest telecoms operators on all the continents, notably in France, Germany, United States, Canada, Russia, Philippines, Malaysia, Brazil, Mexico, Morocco and Egypt. Araxxe's software means that, amongst other services, its customers can realize immediate financial benefits by optimizing invoicing and ending fraud.

The company is firmly focused on international expansion, and more than 20 nationalities are represented on its staff. Exports represent over 85% of total sales.

"We are happy to open our capital to these new institutional investors. This operation, in addition to recognizing the quality of the work carried out by all of our team, will allow us to be even more innovative, to continue to attract the best talent and to accelerate the growth of our client portfolio worldwide", explains the chairman, Xavier Lesage.

"Araxxe's expertise and technological know-how, combined with the fact that the underlying market is really favorable, quickly convinced us of the relevance of the company's value proposition. Its solid customer base and international scope means that its business can be projected in the long-term", adds Maxence Valero, Associate at Crédit Mutuel Innovation.

"We are delighted to be able to work alongside these high-performing managers to implement Araxxe's development plan. In particular, we would like to base strategy on intensifying sales procedures to operators, strengthening the teams, extending the robot network and launching new products and services that have been designed in-house", stresses Sylvia Pinero, Head of Investment at Société Générale Capital Partenaires.

Contact us