NIBC is proud to announce the closing of a Software-as-a-Service (SaaS) Financing for leading provider of a no-code platform Betty Blocks. The financing solution that is offered by NIBC is a first of its kind in the Dutch software market. With this unique product, NIBC is able to support Betty Blocks in its phase of rapid growth.
SaaS Financing
NIBC developed a unique and inventive financing structure that especially fits fast growing and scale-up businesses that offer cloud software based on a subscription business model. In the absence of tangible assets, SaaS Financing provides an alternative for traditional equity investments and general corporate lending. Funding is provided directly based on the recurring revenue under a structure benefitting both Betty Blocks and its clients. This solution facilitates the company in its ambition to grow on an ongoing basis, while maintaining maximum control over the business and allowing it to keep investing in further growth. This inventive transaction is a clear example of our commitment to enable growth for our clients and our focus on the Tech & Fintech sectors.
Annemiek Hofland, Sector Head of Technology at NIBC:
“Technology is playing an increasingly important role in business and life. NIBC has experience and offers expertise to support technology businesses like Betty Blocks in realising their ambitions. We strive to be the partner of choice for scaling SaaS companies by providing financing solutions that fit their unique needs. Our ambition at NIBC is to make a difference for companies with a subscription business model by being entrepreneurial, inventive and professional.”
Tim Obdam, CEO at Betty Blocks:
“Betty Blocks is fast growing and is internationally recognised as a leader in its field. With our continued expansion, we benefit from a funding solution that is both secure and provides flexibility to invest in further growth. We appreciate the in-depth knowledge of the IT industry of NIBC. With its unique SaaS Financing solution we are able to better facilitate our marketing strategy and international expansion. The structure also provides us with a sustainable solution to finance future growth on an ongoing basis and remain in control over our business.”
For more information, please contact:
About NIBC
NIBC is best suited to help entrepreneurs at their decisive moments. Now and in the future. As a bank for entrepreneurs, we are committed to cultivating our ‘THINK YES’ mentality by being flexible and agile and by matching our clients’ can-do attitude. We support our corporate clients in building their businesses. For our retail clients in the Netherlands, Germany and Belgium we offer mortgages, online savings and brokerage products that are accessible, easy to understand and fairly priced. Operating in the Netherlands (The Hague and Amsterdam), Germany and UK, our corporate clients business (mainly mid-market) offers advice and debt, mezzanine and equity financing solutions to entrepreneurs across select sectors and sub-sectors in which we have strong expertise and market positions. The midmarket is dynamic by nature and requires a bank that can respond quickly and in a highly flexible way. Our aim is to meet the market’s requirements at decisive moments such as mergers and acquisitions, management buy-outs, investments and strategic financings and re-financings. You can read more about NIBC on www.nibc.com.
About Betty Blocks
Betty Blocks is the leading no-code application development platform in the world. As the only, truly no-code platform based in the cloud, Betty Blocks enables building complex, enterprise-grade applications efficiently and effectively. With the focus on the people, Betty Blocks’ no-code platform empowers any organization to experiment towards the right solution and take control of their digital transformation.
