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TargetEveryone increases available capital
TargetEveryone has been informed that Link Mobility will pre-pay the outstanding amount in accordance with Seller Credit Agreement of approximately SEK 15 million during the first half of October this year. This will convert the majority of other short-term receivables to cash. The available capital will partly be used at further development of TargetEveryone´s new platform and further market expansion, and partly on repayment of short-term bridge loans made in Q3.
To secure further expansion and development, TargetEveryone has parallelly entered into a credit facility agreement with a Swedish financial institution providing a SEK 5 million credit line at a yearly interest of 18 per cent.
For further information contact:
+47 977 00 338
Mangold Fondkommission AB (556585-1267)
Box 55 691 102 15 Stockholm
Telefon: +46 8 503 015 50
TargetEveryone is a leading MARTECH company that provides a cutting-edge marketing solution, that helps customers target their market intelligently in a swift and cost-effective manner. The cloud-based solution seamlessly helps the user segment their customers, quickly create campaigns, and then distribute them through email, SMS, Facebook, Twitter, LinkedIn or QR Codes. The solution is based on big data to analyze and refine the customers behavior and demands. TargetEveryone has over 3000 clients in more than 92 countries, and has experienced strong growth as marketing investments continues to move from traditional media to digital media. Customers include Nespresso, Coop, Vita, Match, DNB, Krogh Optikk, Cirkel K and Red Cross. TargetEveryone´s headquarter is in Oslo, with branch offices in Sweden, Holland, Portugal, India and USA. TargetEveryone is listed on Nasdaq First North in Stockholm and Merkur Market in Oslo.