Liquidity Group, Provides Reach Mobile with an $8 Million Funding Transaction with only 24 Hours to Term Sheet
December 07 2021 - 11:43AM
Business Wire
Liquidity Group leveraged its machine learning due diligence
platform to commit $8 million in growth credit to Reach Mobile, a
provider of mobile marketing solutions that enable brands to
amplify their connection with mobile customers.
With this transaction, Liquidity Group is funding another
fast-growing direct-to-consumer company. The deal reflects
Liquidity Group’s commitment to offer vertically agnostic scalable
funding for companies seeking to add fuel to their rapid
expansion.
“Our strategy is to move swiftly to provide the growth funding
companies need to create value in their vertical,” said Ron Daniel,
CEO and co-founder of Liquidity Group. “Our machine learning
platform enabled us to deploy funding to support Reach’s plans of
continued growth to provide solutions to meet the needs of brands,
ad agencies, mobile operators and today’s data-hungry mobile
consumers.”
Headquartered outside Boston, Reach is composed of mobile
network, internet and marketing experts that create mobile
marketing solutions that enable brands to amplify connections with
mobile customers. The company has teams across the globe, including
in their Bangalore development center.
“Reach's roster of top tier operators spans six continents and
1.3 billion users,” said Jake Levine, Senior Investment Director at
Liquidity Group. “Our technology-driven approach gives us an
understanding of the nuances and complexities of growth-stage
datatech companies such as Reach, and we look forward to supporting
other great tech companies in the future.”
“The Liquidity Group team provided funding that will enable us
to continue our rapid growth and unlock new opportunities in mobile
and network-based services,” said Reach CEO Harjot Saluja. “In
addition to offering a fast and easy process, this financing option
empowers Reach with the flexibility to drive innovation and scale
across our solution and product portfolio.”
About Liquidity Group:
Founded in 2018, the Liquidity Group is a global capital market
credit automation company and fund manager providing growth capital
through funds focused on the US, Asia, Europe and the Middle East.
Liquidity Group’s subsidiary fund, Singapore-based Mars Growth
Capital, and its partner MUFG [MUFG:NYSE] jointly handle the
company’s South East Asia activity. It combines real-time data with
proprietary machine learning technology to offer tailored financing
that matches a company’s future growth. Liquidity Group operates
three main divisions: Analysis, Capital, and Market Syndication,
which together provide global lenders a complete cycle of scaled
and quick credit deployment. www.liquiditygroup.com
About Reach Mobile:
Reach Mobile’s best-in-class B2B solution, Digital Operator
Cloud, provides a turnkey platform to launch Mobile, Fixed
Wireless, and Private Network services in a matter of days.
Delivering a powerful front-end UX, back office functionality, and
network integrations, the platform offers highly scalable modules
for billing, policy, catalog management, data plan management, and
layered security. Reach is integrated with 45+ mobile operators
around the world and supports 5M daily active users and 40M monthly
active users.
Ranked as the #1 consumer-rated mobile service on TrustPilot,
Reach Mobile is the leading new-era wireless solutions provider for
purpose-driven consumers and businesses. Recognized for its social
impact, customer satisfaction, and signature Best Fit™ discount,
Reach Mobile is an all-digital mobile service with a human touch.
Reach believes that connectivity is a basic human right and helps
bridge the Digital Divide by investing part of its revenue to turn
on mobile service for women and students in need.
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version on businesswire.com: https://www.businesswire.com/news/home/20211207005888/en/
Jared Shapiro at The Tag Experience:
Jared@thetagexperience.com
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