Axxion strenghtens its investment in Sidetrade encouradged by the high demand for AI among businesses
Sidetrade (Euronext Growth: ALBFR.PA), the Artificial Intelligence platform, dedicated to accelerating company revenue and cashflow, announces that Axxion has increased their stake in the company to over 5%.
Axxion, acting on behalf of funds under its management, has announced that they have exceeded the 5% threshold of Sidetrade's capital, now holding 5.19% of the capital.
Axxion has been a Sidetrade shareholder since 2015, and is advised by HC Capital on some of its Sidetrade shareholder funds. Jeremie Couix, co-founder of HC Capital Advisors, had this to say:
“We are convinced that Sidetrade has a unique positioning. Its offers have a very short payback for its customers. In addition, Sidetrade has the highest recurrence rate of all software companies listed in France, and offers significant leverage on the forward margin. Olivier Novasque, its CEO, has a very ambitious project and we are perfectly aligned with the investments and growth strategy.”
Sidetrade and their AI assistant Aimie accelerate revenue and cash flow generation across all business lines.
Olivier Novasque, Founder and CEO of Sidetrade, commented:
“I wish to thank Axxion and HC Capital for their trust. The Covid-19 crisis is accelerating SaaS investment and Artificial Intelligence to improve all business processes. The explosion of late payments is drawing the attention of CFOs to the use of the latest technologies to secure and accelerate cash flow generation. As a cloud and AI solutions pioneer, Sidetrade has a considerable lead in this area and is ideally positioned to create value in this new paradigm”.
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