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Picture credit: Upstream
London-based Upstream, a startup specialising in cell advertising, introduced on Monday that it has secured €14M in a five-year mortgage settlement from the Nationwide Financial institution of Greece.
The corporate says it would use the funds to speed up growth and technological improvement in cell advertising.
Upstream may also deploy the funds to partially repay a mortgage from EIB (European Funding Financial institution), which it took in 2017 because the enterprise grew and developed its industrial portfolio.
Apart from partial refinancing, the UK firm says it has additionally secured an extension on the mortgage’s maturity, amounting to €11M.
Vassilis Karamouzis, Basic Supervisor of Company and Funding Banking on the Nationwide Financial institution of Greece, says, “The Greek expertise ecosystem is stuffed with concepts and innovation, and with the precise assist, can breathe new life into the nation’s financial system. Upstream is a good instance of native, exportable, and sustainable development within the expertise sector, being an organization on the forefront of a worldwide business. The Nationwide Financial institution of Greece is proud to -through our particular Structured Financing unit – assist daring and progressive Greek companies which can be frontrunners in cutting-edge sectors.”
Upstream: What you could know
Led by Dimitris Maniatis, Upstream is a martech firm that helps companies develop their digital attain and gives toolkits to optimise consumer expertise, enhance engagement, appeal to new clients, and enhance revenues.
The corporate’s cell advertising automation platform combines advertising automation and information, safety from internet marketing fraud, and multi-channel digital communication to create personalised end-consumer experiences.
Upstream claims to have accomplished greater than 4,000 profitable cell advertising campaigns.
Upstream says its options handle over 1B shoppers in additional than 30 international locations in Latin America, Africa, the Center East, and Southeast Asia.
“Throughout the previous years, we’ve labored methodically and decisively throughout a pandemic and world disaster to remodel our firm and stay firmly on the forefront of innovation. Over the past interval, we’ve invested each in new applied sciences and our individuals. Now we have emphasised wholesome development, profitability, and accountable administration,” says Dimitris Maniatis, CEO of Upstream.
He provides, “It’s a unbelievable vote of confidence for Upstream and the Greek expertise sector to have the assist of the Nationwide Financial institution of Greece. I contemplate the backing from NBG to be a superb omen for Greek entrepreneurship and the promotion of our nation as probably the most enticing funding environments and a expertise hub.”
“The success of the refinancing of our mortgage, with improved phrases from a Greek banking establishment and the continuation of the belief from the EIB, affirm we’re on the precise development trajectory and strengthens our firm’s place for the longer term,” says Giorgos Serfiotis, CFO of Upstream.
“I wish to thank the executives of the Nationwide Financial institution for his or her exemplary cooperation and the Upstream workforce that supported the financing challenge,” he provides.
Argyro Banila, Head of Structured Financing at Nationwide Financial institution, says, “The Nationwide Financial institution of Greece continues to assist productive Greek firms, particularly these with elevated export exercise in expertise, similar to Upstream. These companies are contributing to the creation of an much more beneficial setting for improvement and attracting elevated investments that may add worth to the Greek financial system.”
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