LONDON: 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 a $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 optimization. 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.” [Ends]
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About Bank Leumi (UK) and Bank Leumi Group
Bank Leumi (UK) is a UK-regulated bank offering a wide range of corporate and commercial banking services to both UK based and international clients. An integral part of the Bank Leumi Group founded in London in 1902, the Bank operates through its Head Office in London and its award winning Asset Based Lender subsidiary, Leumi ABL in Brighton. Activities include commercial finance, trade finance, with a particular expertise in financing cross border trading, commodity finance, financing Israeli related business, media finance, property finance and hotel finance.
Bank Leumi (UK) is a subsidiary of the Leumi Group, one of Israel’s largest banking groups and a reputable global banking institution. The Group operates over 230 branches across Israel, alongside offices in key financial centres worldwide. The Group offers a comprehensive range of specialised financial services.
LeumiTech, the high-tech banking arm of the Leumi Group, was founded in order to promote the financing and development of the Israeli high-tech industry. LeumiTech provides tech companies operating in Israel and abroad with a comprehensive package of financial services tailored to the specific needs of the industry, through offices in Tel Aviv, London, New York and Palo Alto. Out of hundreds of start-ups established in Israel in 2017, over 60% chose LeumiTech as their financial provider.
Fyber N.V. is a global technology company, developing a next generation monetization platform for mobile publishers. Fyber combines proprietary technologies and expertise in mediation, RTB, video and audience