Parisian B2B and B2C e-commerce marketplace SaaS platform Mirakl has secured a €100 million revolving credit facility via a consortium of five financial institutions: BNP Paribas, HSBC, J.P. Morgan, Natixis, and Société Générale. The working capital is aimed at providing a growth mechanism, particularly in the areas of continued development of the company’s technology stack as well as financing the completion of ongoing acquisitions.
Mirakl, which has raised close to $1 billion since late 2012 says that the €100 million RCF will be used to supplement an existing strong cash position, one that has been achieved by adhering to a strict regiment of controlled cash consumption, a practice we’ve seen ever increasing in today’s market.
The company counts retailers including Best Buy, Saks Fifth Avenue, J.Crew, and Macys inc., and H&M Home amongst its client base.
Mirakl co-founder and co-CEO Adrien Nussenbaum further explained the rationale behind the RCF as well as the company’s growth strategy, “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.”
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