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Raketech, the iGaming performance marketing partner, today announced that the company has signed a one-year revolving credit facility of €15 million (£12.8 million/$17.7 million) with Avida Finans AB.
The credit facility enables Raketech to continue to grow through strategic acquisitions and can further be used for financing of working capital, other investments and other general corporate purposes. Interest on the facility is 4,25% plus an annual commitment fee paid upfront. The facility will replace the existing credit facility of EUR 10 million with Swedbank.
Oskar Mühlbach, CEO of Raketech said: “We are delighted to enter into this new relationship with Avida Finans and take advantage of the strong debt markets to strengthen our financial flexibility. The new agreement offers beneficial terms and enables us to keep a high pace in our M&A activities to propel our group growth on strategically important markets”.
The credit facility includes an extension option and can thus be renewed annually from its first date of utilization subject to certain conditions. Raketech will continue to evaluate further long-term financing opportunities, in line with its growth strategy and M&A agenda.