/ Insights / 5square invests in smart safe startup RCCS

5square invests in smart safe startup RCCS

RCCS, a startup from Waddinxveen, has received ‘several million euro’ from Dutch VC firm 5square. The investors collective includes known names such as former banker Wilco Jiskoot and Corendon ceo Atilay Uslu.

While financial details weren’t included in the article of the Financieele Dagblad (FD), 5square usually funds rounds of average 10 million euro.

“We recieved less”, declared founder Fred Rensenbrink in the news paper. “We got wat we need right now, but there is room for growth if we need more funding in the near future.”

Smart safe

RCCS introduced his so-called smart safe to the market in 2013. The system allows retailers to put cash money in a machine that will be automatically transferred to a bank account.

It is already used by 500 shops, including Tamoil, Esso and Hema. RCCS wants to use the investment to expand in The Netherlands and Belgium.

 
Photo by Pieter van Marion (creative commons via Flickr)

Suzanne Blotenburg
Tweets @SuusNL - Journalist & writer in the fields of business and economics. Co-editor-in-chief @StartupJuncture. Likes to write about #Startups #Entrepreneurship #Policy #Innovation #Newconomy

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