Madrid, November 6, 2019.- The Spanish Development Finance Institution, COFIDES, S.A., S.M. E., will support the implementation of Citibox, the at-home parcel delivery management technology company, in Paris (France) through FONPYME.
Citibox is considering an expansion in the main European cities, and Paris is the first in which it has decided to set up shop. The company is a startup that emerged in 2016 with the aim of renewing the e-commerce sector. Its main activity is the development of its own application to manage the at-home delivery of parcels. To do so, it has smart mailboxes that it installs in the entryways of residential buildings, which allows the courier to leave the parcel directly in the mailbox that has been set up for this purpose.
The COFIDES chairman, José Luis Curbelo, stressed that "it is important to support innovative companies that offer solutions that reduce traffic and pollution and contribute to efficient and more sustainable transportation”.
SECTOR ON THE RISE IN FRANCE
According to a study by Euromonitor, the online sales sector will slowly enter the maturity phase over the next few years in France. It also points out that the number of customers will increase progressively, just like the frequency of purchases. The sectors with the greatest growth potential are fashion and footwear products, as well as food and drinks.
COFIDES is a public-private company which has been offering financial support to Spanish companies investing abroad since 1988. It is accredited with the EU to manage Community budgets, allowing it to structure transactions with a high impact on development. It is also accredited with the UN’s Green Climate Fund and can structure operations on climate change mitigation and adaptation with the GCF. It is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and supports AECID in managing FONPRODE funds. Shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.