Zap, which operates the Luxembourgish social network zap.lu, announced today a major capital increase by its two historic shareholders: Patrick Hansen, Director at Saphir Capital Partners and CEO of Luxaviation, and Marc Neuen, Founder and CEO of Linc; Cap4 Group has also entered the capital and just took over the operations of the company.
By leveraging its extensive experience in the field of social networks and cloud applications development, Zap has developed, since its creation in 2007, several products targeted at enterprises. The latest product is Squareboard, a digital workplace allowing companies to communicate and collaborate with greater ease across organisational silos by combining traditional intranets and social networks functionalities.
“In order to develop ZAP and more especially Squareboard even further to reach an international positioning, we have decided to integrate the company fully within our daily operations, structure and teams. We will work on adapting it to different industries and workplaces and create more functionalities that really answer the new needs”, commented Mauro Rocco, CEO of Cap4 Lab and Zap.
Fabien Zuili, CEO of Cap4 Group, added: “We saw great potential in such product to become THE leading digital workplace of the future. Especially since the pandemic pushed companies to increase their digital footprint and communications within and outside of the office”.
Patrick Hansen continued: “I have always seen great potential in ZAP and the entrance of Cap4 Group will reinforce the positioning as well as the technological drive of the company”.
“There is definitely a great market opportunity for ZAP and even more since the crisis has forced companies to digitalize themselves even more”, concluded Marc Neuen.
Xavier Schaeffer will remain Chief Operating Officer (COO) of ZAP and the office is fully integrated within Cap4 Group’s new premises in Bertrange.