Cloud tech provider Form3 has secured a €23mn venture debt facility.
In Brief:
The venture debt funding has been provided by Atempo Growth.
It follows a $160mn Series C funding round last year.
Form3 plans to use the funding to look at acquisitions, expand into new markets and support new product growth.
What does this mean?
Venture debt financing is an option businesses are increasingly looking into in the current environment when VC funding rounds become more challenging – with that being said, Form3 has already raised significant funding from investors including Goldman Sachs, which also uses its solution alongside Lloyds Bank and Nationwide.
