Belief within the main martech firm by the NBG, with 14 million euros mortgage
London, Athens, 19 December 2022 – Upstream, the worldwide cell advertising and marketing expertise specialist, has secured a mortgage settlement of 14 million euros with the National Bank of Greece. The financing, which highlights the financial institution’s assist for the nation’s verdant and promising expertise ecosystem, will probably be used to refinance Upstream’s lending, on much more beneficial phrases, and assist additional growth and technological improvement in cell advertising and marketing.
Dimitris Maniatis, CEO, Upstream
The five-year mortgage settlement with the Nationwide Financial institution will probably be used to partially repay the mortgage from the European Funding Financial institution (EIB) that Upstream secured in 2017 because the enterprise grew and developed its industrial portfolio. Along with the partial refinancing of the present mortgage from the EIB, Upstream has additionally secured an extension on the maturity of the mortgage, amounting to 11 million euros, highlighting the European Financial institution’s confidence in Upstream and its long-term imaginative and prescient, with Upstream attaining beneficial financing phrases.
Vassilis Karamouzis, Basic Supervisor of Company and Funding Banking of the Nationwide Financial institution of Greece, mentioned: “The Greek expertise ecosystem is filled with concepts and innovation, and with the suitable assist 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 worldwide business. The Nationwide Financial institution of Greece is proud to -through our particular Structured Financing unit – assist daring and modern Greek companies which are frontrunners in cutting-edge sectors.”
“Through the previous years, we’ve got 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 got invested each in new applied sciences and our individuals. We now have emphasised wholesome development, profitability, and accountable administration,” mentioned Dimitris Maniatis, CEO of Upstream. “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 take into account the backing from NBG to be a wonderful omen for Greek entrepreneurship and the promotion of our nation as one of the engaging funding environments and a expertise hub.”
Argyro Banila, Head of Structured Financing at Nationwide Financial institution, added: “The Nationwide Financial institution of Greece continues to assist productive Greek corporations, particularly these with elevated export exercise in expertise, reminiscent of Upstream. These companies are contributing to the creation of an much more beneficial atmosphere for improvement and attracting elevated investments that can add worth to the Greek financial system.”
“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 longer term,” mentioned Giorgos Serfiotis, CFO of Upstream. “I need to thank the executives of the Nationwide Financial institution for his or her exemplary cooperation, and the Upstream staff that supported the financing challenge.”
Upstream is a number one martech firm within the quickest rising markets on the earth. Its cell advertising and marketing automation platform, Develop, distinctive in its sort, combines improvements in advertising and marketing automation and information, safety from internet marketing fraud, and multi-channel digital communication geared toward creating personalised experiences for finish shoppers. With greater than four,000 profitable cell advertising and marketing campaigns, the Upstream staff helps its prospects, main manufacturers world wide, talk extra successfully with their prospects, improve digital gross sales and increase their income. Upstream options deal with over one billion shoppers in additional than 30 nations in Latin America, Africa, the Center East and Southeast Asia.
For extra data please contact:
P: +44 20 8175 2984
Upstream Company Communications
P: +30 6949616318