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Fiksu raises $10 million to supercharge global expansion

Takes debt funding from Silicon Valley Bank
Fiksu raises $10 million to supercharge global expansion
Date Type Companies Involved Size
Oct 21, 2014 investment Fiksu Silicon Valley Bank $10m

Demonstrating its strong cashflow, analytics and monetisation outfit Fiksu has announced it's acquired $10 million in mezzanine debt funding from Silicon Valley Bank.

The advantage of raising money in this manner is a company doesn't give away equity to venture capitalists.

Hence it's typically viewed as demonstrating a company has strong cash generation abilities.

Fiksu had previously raised around $18 million in two traditional VC rounds.

It says it plans to use the funding to further support its global expansion and the ongoing development of its Programmatic Mobile Demand Platform

Bigger, bigger

"This has been a banner year of domestic and international growth, marquee customer wins and unprecedented revenue milestones for Fiksu," said CFO, Kenneth Goldman.

"This financing enables us to continue to capitalize on the burgeoning market opportunities before us, and the partnership with Silicon Valley Bank - with its proven history of success working with high tech innovators - will certainly help us to reach our expansive growth goals."

Fiksu recently announced it was generating more than $100 million in annual revenue and has also passed the 100 total in terms of its headcount across offices in Boston, San Francisco, London, Finland, Singapore, New York, Chicago, Los Angeles, Japan and South Korea.

And it's still hiring.