Bank Leumi (UK), the multi-specialist London-based subsidiary of Israel’s international bank, has completed a €4 million financing deal for German advertising technology company, Fyber. The facility forms part of a group-level deal for the tech firm, as the Bank’s Tel Aviv-based parent approved an $18 million credit line for Inneractive Ltd, one of Fyber’s subsidiaries, in 2017. The group-level deal was led by LeumiTech, the high-tech banking arm of Leumi.
With six global offices across Berlin, Tel Aviv, London, New York, San Francisco and Beijing, Fyber provides advanced technology platforms that allow mobile app developers to monetise their properties by connecting them with advertisers through technology and optimisation. Fyber’s expertise is in mobile video and it reaches over one billion unique monthly users around the globe.
Shalhevet Mandler, Head of Hi-Tech Finance at Bank Leumi (UK), commented: “We are very excited to be able to complete this deal with Fyber, who is at the cutting edge of the thriving hi-tech sector – a key area of focus for Bank Leumi – and we are keen to be able to contribute to its innovation.”
Ziv Elul, CEO at Fyber, said: “Fyber is committed to empowering mobile app developers and shaping the future of the app economy. With this deal, Bank Leumi is recognising the increasing importance of the sector. Thanks to this credit line and their support, we are able to meet our working capital needs and continue our growth.”
