Destiny, the Belgian cloud telecom operator, has attracted Mentha Capital, an independent private equity company, as an investor. Destiny aims to use these extra funds to realise its further penetration into Belgium and its international growth ambitions quickly.
Even though Destiny operates in a very competitive telecom sector, since its launch in 2008 it has managed to achieve strong growth. The company now has 56 employees and ended the last financial year with a turnover of 13 million euros. Over the past year the company has been regularly honoured with awards, including ‘Most Promising Company of the Year’ (EY) and ‘Fastest Growing Company’ (Deloitte Technology Fast 50).
Daan De Wever, Managing Director and co-founder of Destiny: “In today’s highly-fragmented cloud and telecom market, we have a clear and strong ambition to spearhead the next wave of consolidation. Destiny therefore has concrete plans to make (international) acquisitions in the near future. Our aim is to generate an annual turnover of 100 million euros within 4 years, thanks in part to these very targeted acquisitions.”
He continues: “We are therefore pleased to receive Mentha Capital’s support as a financial partner that also has the expertise we need to help us fulfil our short-term ambitions.”
Edo Pfennings, Partner at Mentha Capital: “We are convinced of the growth potential and further developments within the cloud internet and telecom market as well as the important role that Destiny, as a young and innovative company, is playing in this. That is why we are happy to support them with the capital and expertise they need to realise their ambitions.”
With services for more than 1,500 customers in more than 5,000 locations, Destiny owes its growth as a cloud telecom operator to its service-oriented approach, its flexibility and the continuous expansion of its high-quality services. Destiny currently provides services such as fixed (VoIP) and mobile telephony, unified communications and cloud services relating to security and administration.
Founders Daan and Samuel De Wever and the current management team are still significant shareholders in the company and ensure that its continued expansion is focused on delivering quality and service