FinTech company BillFront has secured €50m in multi-currency asset-backed financing from Fasanara Capital, and rebranded as Vane.
The rebrand to Vane, the company said, reflects its strategy to roll out a wider suite of financial products and illustrates how it lends financial power to digital businesses, giving them a capital advantage in the market. Vane launched an updated website as part of the rebrand.
Founded in 2015 by FinTech Entrepreneur Greg Dimitriou, Vane currently operates from offices in London, Berlin and New York, and provides non-dilutive capital to companies that operate digital business models. Since its establishment, Vane has provided over $350m in capital across tech and media companies in 10 countries.
Vane said the financing partnership with Fasanara Capital will power its expanded offering, which will include not only its popular receivables-backed revolving credit facility but also revenue based financing for mobile App user acquisition.
The company is not stopping there. Looking to expand internationally, Vane has also established a local presence in the US in 2020. Most recently it has received its California lending licence, enabling it to broaden its financing capabilities and bring its expertise in supporting fast-growing digital businesses to America.
Greg Dimitriou, founder and CEO of Vane, said, “Vane is a strong new identity reflective of our ambition to build next generation finance tools to meet the dynamic capital needs and aspirations of today’s Tech Entrepreneurs.
“The partnership with Fasanara Capital will help us to deliver on this ambition and give us a competitive advantage in the market of financing fast-growing Tech and Media Companies.”
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