Fiksu Takes $10m in Mezzanine Debt Funding

fiksu logo large colorMobile ad tech company Fiksu has raised $10m (£6.2m) in mezzanine debt funding – a loan which can be converted into equity interest if unpaid – from Silicon Valley Bank.

Back in August, Fiksu reported annual revenues of $100m, citing growing demand for data-driven mobile ads as the main driver of growth.

The company says it will use the funding to support further global expansion – having recently grown its presence in the US with the opening of New York, Chicago and LA offices – as well as the ongoing development of its Programmatic Mobile Demand Platform.

“This has been a banner year of domestic and international growth, marquee customer wins and unprecedented revenue milestones for Fiksu,” said Kenneth Goldman, CFO, Fiksu. “This financing enables us to continue to capitalize on the burgeoning market opportunities before us, and the partnership with Silicon Valley Bank—with its proven history of success working with high tech innovators—will certainly help us to reach our expansive growth goals.”

Fiksu has previously raised two rounds of equity funding from Charles River Ventures and Qualcomm Ventures, the most recent of which was a $10m Series B round in July 2012.