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Mirakl announces €100m Revolving Credit Facility to fuel growth

By Gloria Methri

August 02, 2023

  • Bnp Paribas
  • Europe
  • FinTech Fundraise

Balance, Mirakl, B2B Payments Experience Company, Online Checkout, API, B2B, B2C, EuropeGlobal SaaS firm Mirakl has announced the signing of a €100 million Revolving Credit Facility (RCF), granted by five global financial institutions.

The RCF supplements Mirakl’s existing cash position, built on the company’s controlled cash consumption following series D and E fundraisings. The funds will be used to finance Mirakl’s growth, in particular by investing in its technology and completing acquisitions.

Following Mirakl’s latest Series E fundraising round of $555 million in 2021 – valuing the company at over $3.5 billion – Mirakl is now strengthening its capacity to invest in its growth.

The company has a strong track record of investment, both in acquisitions and organic growth, such as the acquisition of Target2Sell, the launch of its retail media business (Mirakl Ads), and its financial services business (Mirakl Payout) which generated more than $135 million in annual recurring revenue.

Adrien Nussenbaum, co-Founder and co-CEO of Mirakl said, “This latest debt financing is an additional milestone demonstrating Mirakl’s financial strength and greater financial maturity. Through the RCF, we will be able to carry out M&A transactions that will further strengthen Mirakl’s technological progress and the success of our customers’ marketplaces.”

Eric Heurtaux, Group CFO of Mirakl said, “We are proud to announce the signing of this RCF, which reflects the confidence of our banking partners in supporting our long-term growth strategy. This facility, with its flexible terms and competitive conditions, provides us with additional financial resources to meet our strong ambitions for growth and development.”

This RCF was obtained from a pool of five lenders: BNP Paribas, HSBC, J.P. Morgan, Natixis, and Société Générale who took part in setting up this syndicated loan and acted as mandated arrangers and bookrunners.

Redbridge Debt & Treasury Advisory acted as a financial advisor, Bredin Prat as legal advisor for Mirakl, and Hogan Lovells acted as legal advisor to the pool of banks.

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