Profitable French scale-up Wiremind raises €35 million after 12 years of bootstrapping

Wiremind, a Paris-based AI software company serving the transport, air cargo, and events industries, has closed a €35 million funding round, its first since being founded over a decade ago.

The round brings three new investors: IronWave (formerly Wendel Growth), Bpifrance Investissement through its Large Venture fund, and Seaya Andromeda. The company said Wiremind’s co-founders, CEO Colin Girault-Matz and CTO Charles Pierre, will remain majority shareholders and retain control of the business.

“In twelve years, and without a single euro of outside capital, Colin, Charles and their teams have built systems that today drive the revenue of the largest rail and air operators,” said Victoire Laurenty, founder and General Partner of IronWave (formerly Wendel Growth).

Founded in October 2014, Wiremind is a bootstrapped company driven by its founders’ passion for data visualisation, tech and optimisation. They first crossed paths at SNCF, where they identified a gap in the market for machine learning-powered tools to help transport operators manage revenue and capacity more effectively.

Its flagship product is called CAYZN, an AI-first revenue management system for passenger transport operators. After being adopted by leading transportation companies, the system has reportedly delivered revenue gains between 5 and 15% on average. In 2025, CAYZN’s annual recurring revenue grew 81% year over year. The company has expanded its portfolio to include PAXONE, a next-generation inventory and distribution platform, CARGOSTACK for air cargo management, and EVENTORI, an AI-driven ticketing and revenue management platform for sports clubs and event organisers.

The fundraiser marks a significant milestone for a company that has operated entirely without outside capital while remaining profitable. In 2025, the company said its revenue grew 67% across the board, and it now works with more than 80 clients, 23 of which joined over the year.

“Charles and I began our careers more than fifteen years ago in the rail and aviation industries, so we have a unique understanding of the challenges our clients face. It is this first-hand knowledge that we leveraged to grow Wiremind over the years, while staying completely self-financed and investing in our own R&D,” said Girault-Matz, co-founder and CEO, Wiremind.

He added, “Today, we’re accelerating our efforts given the speed at which the market is adopting artificial intelligence tools. This financing round will allow us to reach rapidly growing geographic markets where decisions on technology investments are being made right now.”

The funding will be used to support two strategic priorities: expanding into new international markets and deepening investment in AI research and development. The company will continue its growth in South America and extend its reach into the Middle East and APAC regions, building upon its success in Europe and North America.