Barcelona-based counterfeiting, piracy, identity theft and fraudulent online distribution service Red Points has secured up to €15 million in debt financing over the next five years from the European Investment Bank. This is the first venture debt activity in Spain as part of the Pan European Guarantee Fund. Red Points has reserved this debt funding to finance further product R&D.
Founded in 2011 by David Casellas and Josep Coll, and led by Laura Urquizu, Red Points is a SaaS that over 800 businesses use to protect their brand reputation and maximise revenues. The firm leverages AI to scan e-commerce platforms, social networks, and web properties to help businesses identify lookalike products and brand abuse.
Due to the explosion of both e-commerce and cybercrime over the course of the pandemic, Red Point has gained a strong reputation and services clients in the electronics, fashion, sport, automotive, and entertainment industries. The firm has offices in Barcelona, New York, Salt Lake City, and Beijing, with approximately 250 employees.
“This new milestone in our financing strategy contributes to extending our double-digit growth, accelerating our innovation and protecting brands and consumers across the world. We are delighted that a European institution such as the EIB can assist us with our growth strategy,” comments CEO Laura Urquizu.