Baker McKenzie advised the start-up company BillFront on the debt capital tranche of a financing by several investors. The Berlin-based company, a start-up specialized in the financing of digital advertising companies with a branch in London, secured a total of 33 million euros in the financing round.
The Berlin parent company Finleap and 4finance Holding participated in the financing and NIBC Bank Deutschland AG took over the debt tranche of the financing round. BillFront intends to invest the capital raised in the further expansion of its rapidly growing business with online advertising companies.
Baker McKenzie advised on all legal aspects related to the debt tranche of the financing, including all contracts. The transaction combined the technical solutions of an innovative FinTech company with the special features of a structured receivables financing. In addition, the requirements of the participating equity investors had to be taken into account.
"With the financing, our client has achieved a significant milestone in the development of their business. For the first time, NIBC Bank Deutschland AG has entered into a partnership with an internationally operating FinTech company. We are delighted that we were able to contribute to this success for our client, "commented Dr. Matthias Eggert, Partner of the Banking & Finance Practice Group in Munich.
BillFront helps young digital and media companies to optimize their cash flows and avoid liquidity shortfalls in their day-to-day business. The company provides credit lines to its business customers in the amount of such customers' receivables from online advertising. The receivables serve BillFront as security. NIBC Bank Deutschland AG in turn provides refinancing to BillFront. BillFront focuses its activities on digital advertising and media companies.
Baker McKenzie’s securitization team advises clients on a large number of German and international structured financing transactions on an ongoing basis. Société Générale, Commerzbank Aktiengesellschaft, Landesbank Baden-Württemberg, NIBC Bank Deutschland AG, Volkswagen, Porsche Financial Services, BMW Bank, LeasePlan, FFS Bank and CRX Markets AG are among the regular clients of the firm.
Legal advisors to BillFront:
Lead: Banking & Finance: Dr. Matthias Eggert (partner, Munich)
Team: Banking & Finance: Sandra Wittinghofer (partner, Frankfurt), Dr. Sahra Demirbilek (associate, Frankfurt) Timo Riester (associate, Munich)