BillFront Announces German Market Entry Alongside New $7.9 million Financing Facility For Leading Ad-Tech Platform Fyber
- 28.06.2017 09:45 am
BillFront, a leading and fast-growing technology-enabled finance provider dedicated to digital media companies globally, announced today its successful arrangement of a multi-million financing facility for leading digital advertising technology (ad-tech) company Fyber, made available through its partner bank in Germany - solarisBank.
The working-capital facility will allow Fyber to scale its operations globally and capitalise on the strong growth within the programmatic and real-time bidding (RTB) advertising markets.
Fyber selected BillFront due to its strong track record and specialist knowledge in the ad-tech space, its ability to support the future growth of the company and the automated process of validating their sizeable volume of receivables quickly and efficiently; an area in which traditional finance providers are often lacking.
Andreas Bodzcek, CEO of Fyber said: “BillFront’s strong understanding of the ad tech sector and the fundamentals of our business helped us to quickly come to an agreement. We were looking for a flexible and scalable solution that could handle our international invoices, without slowing down or creating additional work for our finance department. With BillFront we feel that we have found the right partner to support our ambitious growth plans.”
Alongside this transaction, BillFront GmbH also announces the launch of its partnership with solarisBank AG, through which it will conduct its business in the German market.
Christopher Vogt, Co-Founder of BillFront, said: “We are excited to be partnering with Fyber and solarisBank: With Fyber, we are adding a marquee client to our portfolio, and our co-operation with solarisBank will allow us to actively target and onboard clients in Germany, a market that is strategically important for us given the growth that the German ad-tech scene is experiencing."
Gregor Dimitriou, Co-Founder of BillFront, said: “Fyber is one of the leading ad tech platforms for digital publishers and app developers with a global presence, focusing on the fast-growing mobile video advertising segment. This is an important step towards fulfilling our long term goal of becoming a leading invoice financing provider for the international media and advertising industry.”