PARIS and STAMFORD, Conn., Dec. 10, 2019 (GLOBE NEWSWIRE) -- Finacity Corporation (“Finacity”), part of the Greensill family of companies, announced today that it has facilitated a EUR 15 million receivables financing facility for Wiko Mobile, a rapidly-growing maker of popular smartphones in Europe. The new facility provides additional financing for the company’s repositioning and development program in Europe.
Finacity provided origination, analytic and structuring support.
The program is funded through Edebex platform, an innovative alternative to financial credit and traditional factoring.
About Wiko Mobile
Wiko, the global mobile brand, was founded in 2011 in Marseille in the South of France. Today it operates in over 30 countries around the world and ranks among the top four smartphone brands in Western Europe. Propelled by its success in the European market, the company has a growing international presence in Asia, Africa, Middle East and in the US. For further information please visit: https://fr.wikomobile.com
About Finacity
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual volume of receivables of approximately US $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries. For further information, please visit www.finacity.com.
Finacity is part of the Greensill family of companies.
About Greensill
Greensill is a leading provider of working capital finance for companies globally. Founded in 2011, Greensill provides businesses with alternative sources of funding, allowing them to provide suppliers with the opportunity for faster payment, while at the same time preserving their own capital position. The company is headquartered in London with offices in New York, Frankfurt, Chicago, Miami, Singapore, Sao Paulo, Mexico City, Johannesburg, Sydney, Warrington and Bundaberg. Greensill provides working capital finance facilities to customers across Europe, North America, Latin America, Middle East, Africa, and Asia. The company owns Greensill Bank, which was founded in Bremen, Germany in 1927, has a suite of proprietary Supply Chain Finance Funds run by world leading fund management organisations, acquired Finacity in June 2019 and FreeUp in October 2019. Greensill works with dozens of institutional investors that together provide stable funding. Greensill will provide more than $150 billion of financing by end of 2019 to more than 8 million customers and suppliers across more than 165 countries. For further information, please visit greensill.com.
For more information on this transaction please contact:
Finacity
Joao Valente
Tel: +33-(0)9-541-22-555
Tel: +1-(203) 428-3536
Email: jvalente@finacity.com