Brandtone is pleased to announce that it has successfully raised €18.5 million in debt and equity financing. US-based Ares Capital Corporation is providing approximately €12 million, with existing Brandtone shareholders Unilever, Syngenta, Verlinvest and Vision Private Equity providing a further €6.5 million collectively in equity.The new funding will be used as working capital to support Brandtone’s immediate expansion into South East Asia and further expansion in Africa and Latin America. It will also support the company’s entry into new sectors, including agri-food and healthcare, and enable it to invest in the leadership and innovation necessary to ensure its offering continues to meet the needs of a rapidly evolving marketplace.
Brandtone aims to engage with one-in-ten households in the twenty fastest growing developing and emerging markets by 2017, highlighting the potential significance of this backing. This latest financing round comes a year after Brandtone closed its third round of funding with an investment of €14 million, led by Syngenta Ventures. Donald Fitzmaurice, said: “We see this funding as a strong vote of confidence in the company. Ares’ decision to provide financing, along with further backing from existing investors, is an endorsement of the company’s vision and strategy for growth. The move from equity to debt financing is also evidence of Brandtone’s on-going transition from start-up to grow-up.”