BillFront raises $35 million in Series A funding to help digital media companies fuel their growth
Investors include 4finance, NIBC Bank & existing investor FinLeap
London & Berlin-based company to use significant funding to expand further its alternative finance platform for digital media businesses
14/12/16, London & Berlin - BillFront, a leading financial technology company which enables the digital media industry to get faster access to their media revenues, today announces the successful completion of an integrated debt and equity Series A funding round worth $35 million (£27 million).
BillFront will use this Series A funding to expand the company further, to support its fast growing customer needs as well as to continue the development of its proprietary technology and the acquisition of new talent.
BillFront uses unique technology, based on data-driven risk management methodology, which connects directly to media companies’ invoicing systems and automatically suggests eligible invoices for financing. This means that BillFront’s customers receive financing in a fraction of the time compared to traditional finance providers. BillFront works with corporate clients within the digital media space such as advertising agencies, Demand-Side and Supply-Side-Platforms, ad-exchanges, networks, as well as publishers and app developers, globally. Clients include DynAdmic, an adtech firm which uses big data to help advertisers target online users with the most relevant online video ads.
The media industry still suffers from the long payment terms offered by many of the largest media buyers, which hampers the speed at which companies in the space can grow. Conversely, it is a major advantage for ad-tech companies to be able to offer short payment terms to their suppliers. BillFront helps to bridge that gap.
BillFront was co-founded by Christopher Vogt and Greg Dimitriou. The two Co-Founders of BillFront combine several years of working experience in Finance and ad-tech. Dimitriou worked 12 years for JP Morgan in the media investment banking space and Vogt held a leading position at a major demand-side platform in Germany.
BillFront Co-Founder and Managing Director Christopher Vogt said: “There is a clear need for growth capital within ad-tech, and our solution provides an attractive alternative to expensive equity capital on one hand, and often inflexible debt financings on the other. And, we make requesting funds through our platform so seamless that our clients can focus more on their core business.”
Thom Rasser, CEO of NIBC Bank Deutschlands, commented: “BillFront’s expertise within the fast growing ad-tech market, combined with their excellent tech-enabled risk methodology, convinced us to start a partnership with an international fintech for the first time.”
Greg Dimitriou, Co-Founder and Managing Director of BillFront concludes: “With this financing, we are adding two more strong partners that enable us to execute our vision of becoming the leading alternative finance platform for digital media businesses.”
BillFront is a leading and fast growing technology-enabled finance provider dedicated to digital media companies globally. Through its technology platform, BillFront frees up working capital within the industry, thereby enabling its clients’ to accelerate their growth. BillFront provides financing between €50,000 and several millions of euros per month through integrating into its customers’ invoicing systems.
The company was founded in 2015 and is run out of London and Berlin. The BillFront team is led by former media M&A banker, Greg Dimitriou and advertising technology expert Christopher Vogt.
Established in 2008, 4finance Holding S.A. is Europe’s largest and fastest growing online and mobile consumer lending group with operations in 16 countries globally. Putting innovative data-driven analysis into all aspects of the business, 4finance has grown rapidly, issuing over EUR 3.5 billion in single payment loans, installment loans and lines of credit. 4finance operates through a portfolio of market leading brands with a strong regional presence including Vivus, SMSCredit and Zaplo. A responsible lender, offering simple, convenient and transparent products and service, 4finance is meeting growing customer demand from those underserved by conventional lending.
Headquartered in The Hague, NIBC also has offices in Frankfurt, Amsterdam, London and Brussels. NIBC is the bank of choice for decisive moments. The Corporate Banking activities offer a combination of corporate finance & capital markets, financing and investing in the sectors Food, Agri, Retail & Health, Industries & Manufacturing, Infrastructure & Renewables, Commercial Real Estate, Oil & Gas Services, Shipping & Intermodal and Telecom, Media, Technology & Services. Consumer Banking offers residential mortgages in the Netherlands and online retail saving deposits in the Netherlands, Belgium and Germany via NIBC Direct.