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The European Investment Bank (EIB) has made available a EUR 10 million facility for international Software as a Service (SaaS) company CM.com, to speed up innovation and development of its messaging, payments, voice and digital identification applications.
The financing will be guaranteed under the European Fund for Strategic Investments (EFSI), part of the Investment Plan for Europe of the European Commission.
The facility will allow CM.com to broaden its technological advantage and speed up the roll-out of the digital security solutions it develops. The loan is also beneficial for maintaining specialised jobs in Europe, as the capital will mostly be used for research and development purposes. Furthermore, CM.com will invest in new “Internet of Things” (IoT) applications and the further development of its ‘One Platform’ philosophy. This means that all mobile and digital functionalities, including messaging, payments, voice and digital identification, should be easy-to-use and available through one single platform.
Jeroen van Glabbeek, CEO of CM.com, stated: "The EIB loan is proof that CM.com is going in the right direction. Therefore, we are proud that the CM.com is the first in its specific part of the sector to receive EIB financing. We’re implementing an investment programme relating to research and development for incremental, radical and process innovations and related capital expenditure. This is part of a larger investment plan for the coming years. With it, we will be focusing on a fully integrated multifunctional platform for messaging, telephony, payments and access.”
"This project really is a showcase for how the EIB can support cutting-edge technology, also thanks to the EU budget guarantee." said EIB Vice-President Pim van Ballekom. "The Netherlands has a fantastic ecosystem of small and medium sized tech companies that people on the street may not have heard of yet, even if they use their services every day. I’m glad that the Bank can support CM.com and other companies in the sector, they really are a flagship for the Dutch knowledge based economy."
European Commission Vice-President Andrus Ansip, in charge of the Digital Single Market, said: “If we want the EU to be a tech leader, then we have to encourage our companies to develop bold ideas and ensure they receive financial backing. This is exactly what today's transaction aims to achieve. Strengthening cybersecurity in Europe is one of the Commission's priorities and CM.com is contributing to this objective."
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