Picture credit: Upstream
London-based Upstream, a startup specialising in cell advertising and marketing, 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 is going to use the funds to speed up enlargement and technological growth in cell advertising and marketing.
Upstream will even 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 business portfolio.
In addition to partial refinancing, the UK firm says it has additionally secured an extension on the mortgage’s maturity, amounting to €11M.
Vassilis Karamouzis, Normal Supervisor of Company and Funding Banking on the Nationwide Financial institution of Greece, says, “The Greek expertise ecosystem is filled with concepts and innovation, and with the suitable help, can breathe new life into the nation’s financial system. Upstream is a superb instance of native, exportable, and sustainable development within the expertise sector, being an organization on the forefront of a world trade. The Nationwide Financial institution of Greece is proud to -through our particular Structured Financing unit – help daring and modern Greek companies which are frontrunners in cutting-edge sectors.”
Upstream: What you might want to know
Led by Dimitris Maniatis, Upstream is a martech firm that helps companies develop their digital attain and offers toolkits to optimise person expertise, enhance engagement, entice new clients, and enhance revenues.
The corporate’s cell advertising and marketing automation platform combines advertising and marketing automation and knowledge, safety from internet advertising fraud, and multi-channel digital communication to create personalised end-consumer experiences.
Upstream claims to have finished greater than 4,000 profitable cell advertising and marketing campaigns.
Upstream says its options handle over 1B customers in additional than 30 nations in Latin America, Africa, the Center East, and Southeast Asia.
“In the course of the previous years, now we have 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, now we have invested each in new applied sciences and our individuals. We’ve got emphasised wholesome development, profitability, and accountable administration,” says Dimitris Maniatis, CEO of Upstream.
He provides, “It’s a incredible vote of confidence for Upstream and the Greek expertise sector to have the help of the Nationwide Financial institution of Greece. I contemplate the backing from NBG to be a wonderful omen for Greek entrepreneurship and the promotion of our nation as one of the crucial 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 suitable development trajectory and strengthens our firm’s place for the long run,” 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 crew 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 help productive Greek firms, particularly these with elevated export exercise in expertise, corresponding to Upstream. These companies are contributing to the creation of an much more beneficial surroundings for growth and attracting elevated investments that may add worth to the Greek financial system.”
