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App commerce company Poq has secured USD4 million in a Series A funding round, led by venture and growth investor Beringea with additional funding from existing investors.
Seed investors include Seedcamp and Venrex. Poq provides a Software-as-a-Service platform that enables retailers to offer customer-facing shopping apps. Poq has coined the term ‘app commerce’ which refers to shopping via mobile apps.
Launched in 2011, Poq powers the apps of large international retailers such as House of Fraser, Missguided and Liberty. Poq allows retailers to make use of in-app and in-store data to gain actionable insights in customer behaviour and to identify the best growth
- 27/07/2016
Investment funds lawyer Christopher Knight (pictured) has joined Akin Gump as counsel in its investment management practice in the Hong Kong office.
He joins the firm from the Hong Kong office of DLA Piper.
Knight has extensive experience advising financial institutions, investment banks, asset managers, sponsors and investors on the establishment and regulation of hedge funds, regulated funds and private equity funds. He has also advised on Shari’ah compliant investment fund structures.
“Chris’ arrival is a real boost to our investment funds team in Asia,” says Anne-Marie Godfrey, a partner in Akin Gump’s investment management practice in Hong
- 27/07/2016
European tech financings have cooled since early 2015, while European tech exits remain strong and M&A deal sizes are approaching US levels for the first time ever, according to Magister Advisors’ H1 report – The State of European Tech up to Brexit.
The cooling of European late stage financings reverses a five-year trend of ever-larger financings that have fuelled the next generation global challengers who are choosing to compete from Europe.
Companies as diverse as Delivery Hero, Transferwise, Blablacar, Spotify and Supercell have emerged as potential European “unicorns” attracting unprecedented interest, and money, from international investors.
This has
- 27/07/2016
Discovery platform Taboola is to acquire ConvertMedia, a fast-growing native video advertising company.
Following the acquisition, ConvertMedia's video technology will fully integrate with Taboola's data and personalisation engine, currently reaching over billion people a month, to help publishers deliver relevant and viewable experiences to the right user at the right time.
With the acquisition of ConvertMedia, Taboola's offering will be positioned to drive better user experiences as well as holistic monetisation for publishers seeking to add high-quality video supply. Using Taboola's personalisation technology, which currently reaches more than one billion unique visitors monthly, Taboola will be able to deliver
- 27/07/2016
- 27/07/2016
Noerr has advised Oddo Seydler Bank on the restructuring of a EUR60 million bond of Singulus Technologies as part of a debt-equity swap which involved issuing new shares and bonds.
The lead partners were Frankfurt-based Dr Laurenz Wieneke and Dr Julian Schulze De la Cruz.
In February 2016, the Singulus bondholders and shareholders approved a comprehensive restructuring plan at the company which provided that the former bondholders should each transfer their bonds to Oddo Seydler as the settlement agent and receive rights to purchase new shares and bonds in return. The former bondholders made use of more than 82 per
- 27/07/2016
Audax Private Equity has partnered with management to acquire RelaDyne from AEA Investors, a private equity firm based in New York.
Terms of the transaction have not been disclosed.
RelaDyne, headquartered in Cincinnati, Ohio, is a lubricant, fuel and diesel exhaust fluid (DEF) distributor providing customers with integrated reliability management services for industrial and commercial businesses. RelaDyne’s distribution platform spans more than 90 locations serving customers across the Central, Mid-Atlantic, and Southern US.
Geoffrey S Rehnert, co-chief executive of Audax Group, says: “RelaDyne is a leader in lubricant, fuel, and DEF distribution and customer service. We look forward
- 27/07/2016
- 27/07/2016
Groupe RG, a portfolio company of private equity investor Abénex, has refinanced its senior acquisition debt and mezzanine with a more flexible and less expensive new debt structure, allowing it to increase its financial capacity to seize external growth opportunities.
The new debt mostly consists of a transferable senior debt provided by the existing banks of the group (LCL, BNP Paribas, Société Générale) together with Crédit Agricole Centre Est as well as the debt fund Artemid.
A deconsolidating factor line was also set up alongside this facility by GE Factofrance.
With a network comprising 29 agencies and warehouses
- 27/07/2016
The gap between top performing endowment portfolios and the median has been wide of late, and a key indicator of better performance is a 15 per cent or greater allocation to private investments like venture capital, private equity and distressed assets.
That's according to research among a universe of 453 university, college and foundation endowments by investment adviser Cambridge Associates.
The research, published in a new Cambridge report, "The 15 per cent Frontier," finds that endowment portfolios with more than 15 per cent allocated to private investments have outperformed their peers consistently, and for decades.
For the 2015
- 27/07/2016
Elevate, a provider of online credit solutions for non-prime consumers, has increased its credit facility with Victory Park Capital (VPC), a privately held registered investment adviser dedicated to alternative investing, by an additional USD100 million to a total of USD545 million.
The company will use the additional capital to support the rapid growth of its credit products in the US and UK and for further investment in its suite of online credit solutions.
“Elevate has become a clear leader in this space and we are excited to support their growth,” says Tom Welch (pictured), principal at Victory Park Capital.
- 27/07/2016
Nomad Health, an online marketplace connecting doctors with freelance clinical work, has completed a USD4 million Series A financing led by First Round Capital and RRE Ventures with participation from .406 Ventures.
The Series A financing will support a nationwide product rollout that will help address the country’s doctor shortage crisis.
“We are thrilled to be backing Nomad Health as they introduce an innovative solution for hospitals and clinics across the US that struggle to hire enough doctors,” says First Round Capital partner Chris Fralic, who will be joining the company’s board. “Nomad has built a critical and necessary
- 27/07/2016
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