The company has announced a fund raising of € 18.5 million to conquer 10% of the internet users. It raises awareness, in particular on the respect of their privacy.
While the european Internet may be occupied by Google, a wicked search engine created by the French still resists and always to the invader. Qwant was launched in 2013, on Thursday announced a fund raising of € 18.5 million thanks to the renewed support of Axel Springer (for a total of 3.5 million euros) and at the entrance to the capital of the Caisse des dépôts (€15 million).
On a european market that is held almost entirely by Google, Qwant seeks to conquer 10% of internet users, by raising awareness to respect for their private life. “We do not use cookies, no browsing history, and our infrastructure of data-centers are independent and based in France”, welcomes its CEO, Eric Léandri. To support the development of the start-up franco-German, the european investment Bank had already granted a loan of 25 million euros in 2015.
Qwant, which uses the method of the payment for the click to earn income from its activities, does not communicate on its sales past. The company hopes that it will reach several million euros by the end of 2017 and € 500 million by 2021. “It is realistic, in a market that will reach $ 30 billion in the same period,” says its general manager Alberto Chalon. In 2016, the company crossed the milestone of 2.6 billion queries and the beginning of 2017, it is launched on the mobile. “It is the foundation of the digital economy,” assured Gabrielle Gauthey, director of the Investments of the Caisse des dépôts.
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