Luxembourg scale-up Tadaweb plans to expand into the US after PE firm Wendel Growth took a minority share in the open-source intelligence firm.
Wendel announced in a press release that it had invested €15M to support the Belval-based firm’s growth. The transaction is expected to close during Q1 of 2023, subject to regulatory approvals.
Genna Elvin, Chief Tada Officer and cofounder at Tadaweb, said the investment was a major milestone for the firm. “It will accelerate our expansion globally, including our entry into the United States and additional European markets. We have been a profitable company for over 5 years, and this represents a pivotal step for the company. Our recently expanded leadership team, along with this relationship, significantly shifts our ability to scale our products and the global markets we serve.”
Tadaweb makes it easier and faster for organisations to generate intelligence from publicly available information, helping them detect trends and accelerate their investigations. It employs around 120 people across its headquarters in Luxembourg as well as in offices in Paris, London and Ottawa.
Wendel Group is headquartered in France and has offices in Luxembourg and the US.
“This first direct investment in Europe by the Wendel Growth investment team, led by Antoine Izsak, is fully in line with what we want to target: innovative companies with high growth and leadership potential, led by committed entrepreneurs,” said Jérôme Michiels, EVP, CFO and head of Wendel Growth.
