Pride Capital Partners provides mezzanine loan to COYO
Amsterdam/Hamburg, February 4, 2019
COYO has attracted a mezzanine loan from Pride Capital Partners to finance its national and international growth strategy. COYO’s offers an in-house developed social collaboration and intranet platform that serves as a digital home for many medium to large companies in Europe. The platform is sold in a SaaS and private cloud model resulting in a scalable and recurring business.
COYO is headquartered in Hamburg (GER). The company employs ca. 100 people. The COYO platform enables companies to increase their reach amongst their staff and substantially promote content creation and collaboration within the staff. COYO is a true digital home and covers all aspects of a classical intranet and a social communication channel. It helps employees to better identify themselves with their employer and the company culture as they are more democratically involved in decision making processes and generally better informed about recent developments within the company. COYO is also brought to employees working remotely – often without access to a company desktop – via a mobile device application.
COYO’s largest customers currently have between 75.000 and 300.000 users active on the platform. COYO will continue to increase its market presence within the far from saturated European market. Currently only 30% of European enterprises use some sort of social collaboration platform, painting a bright future for platforms supporting content creation and distribution.
The mezzanine loan will be used to finance COYO’s expansion strategy. The primary focus is on supporting continuous development of the platform and strengthening the sales channel for large and extra-large clients.
Lars van ‘t Hoenderdaal (Managing Partner of Pride Capital Partners): ”COYO’s strong technology, scalable and recurring business model, combined with a very dedicated management team convinced us to provide the means for their growth strategy. The mezzanine loan is a perfect fit for COYO’s growth ambitions, allowing management and shareholders to secure their future without major changes in their legal and operational setting.”
Jan Marius Marquardt (Founder & CEO of COYO): “We’re very happy that our profitable and fast growth allowed us to attract a mezzanine loan from Pride Capital Partners. After becoming the leading German social and mobile intranet vendor with over 700.000 users and without external financing, the loan will now allow us to reach our international growth goals while maintaining the existing shareholder structure.”
About Pride Capital Partners
Pride Capital Partners is a specialized private debt company, formerly known as Main Mezzanine Capital, the financing activity of Main Capital Partners. Pride Capital Partners provides mezzanine loans to profitable and growing companies in the software and ICT market in the Benelux and DACH region. Currently Pride Capital Partners is in the process of raising a Mezzanine fund with European Investment Fund amongst its institutional investor base. Previous loans have been funded by its own shareholders, plus wealthy individuals, family offices and (former) entrepreneurs. Pride Capital Partners has provided 21 mezzanine loans so far. Active companies in the mezzanine portfolio are for example OnGuard, KAIROS, DataManagement Professionals and Spotzer.