PALO ALTO, Calif., Dec. 4, 2020 (SEND2PRESS NEWSWIRE) — Fanplayr, a leader in online behavioral personalization and AI for the past 10 years, recently closed a funding round from Partners for Growth (PFG) to support significant growth in its business and customer base.
PHOTO CAPTION: Simon Yencken, Co-Founder and CEO of Fanplayr.
PFG is pleased to announce the transaction with Fanplayr is an investment from its recently closed 6th global specialty lending fund, focused on providing growth capital solutions for emerging growth companies globally. PFG worked on the transaction from its offices in Australia and the San Francisco Bay Area, given Fanplayr’s strong connections to both markets and consistent with the technology entrepreneurial activity and partnerships between businesses in Australia and San Francisco.
This financing will allow Fanplayr to continue to expand its client base as it acquires new customers as well as providing capital to invest in new growth markets such as the UK, the Netherlands, Mexico and Brazil.
Karthi Sepulohniam, Managing Director at PFG based in Sydney noted, “We are excited to have the opportunity to support Fanplayr’s growth today and over the coming years, as they deliver e-commerce enablement and AI technology to global online businesses.”
Fanplayr specializes in behavioral personalization and e-commerce enablement for online businesses in multiple verticals such as retail, travel, telco, entertainment, banking and B2B. Fanplayr Co-Founder and CEO Simon Yencken said of the PFG partnership, “It’s exciting for Fanplayr to join forces with PFG and to add a global financing partner to the mix. PFG’s funding will allow us to continue Fanplayr’s growth with enterprise businesses in multiple markets and sectors.”
Simon was introduced to PFG by Natasha Mandie, the managing director of EM Advisory, an advisor to technology companies throughout the world, and a resource with significant experience in the ASX IPO market. Simon was attracted to PFG’s ability to structure a flexible financing package that allows Fanplayr to deploy capital to fund growth opportunities and respond to market changes and opportunities.
“During the COVID-19 pandemic, consumers have made a more permanent shift to online purchasing,” said Simon Yencken. “We have seen a surge of e-commerce economic activity in retail, telecommunications, car companies, gambling and entertainment, to name a few. Increasingly, businesses are looking for global technology partners who can support them in the various geographies within which they operate. PFG was a perfect partner for us as we expand existing operations in Europe and APAC, while also establishing offices to meet demand in London, Sao Paulo, and Amsterdam and elsewhere.”
Karthi Sepulohniam added, “We are pleased to be working with an entrepreneur of Simon’s caliber. In addition to his leadership as CEO of Fanplayr, Simon has had previous success as Chairman and Board member at Aconex and is also currently a non-executive Board Member at Damstra Technology (ASX: DTC).”
Partners for Growth Fund VI has already supported emerging growth businesses in the U.S. and Australia since the initial close in late 2019 and will continue to invest in attractive technology markets globally over the coming years. Building from its home base in the San Francisco Bay Area, PFG has structured growth capital solutions for companies across North America, Europe, Asia, Australia and New Zealand over the past two decades.
Fanplayr is a global leader in e-commerce behavioral data, using machine learning and AI to enable businesses to increase conversion rates and revenue, collect more leads, and retarget visitors with personalized recommendations during and after the shopping experience. Fanplayr is headquartered in Palo Alto, California with offices in New York, Buenos Aires, Mexico, Milan, London, Amsterdam, Melbourne and Tokyo.
Learn more at: https://www.fanplayr.com/
About Partners for Growth
Established in 2004, the firm’s investment strategy dates to the mid-1980s when the co-founding partners managed the lending practice of technology investment bank Hambrecht & Quist, purchased by JPMorgan Chase in 1999. The PFG team provides custom debt solutions to revenue stage emerging growth companies leveraging decades of experience gained in structuring tailored debt facilities to support growth and expansion, working capital, and acquisition financing needs for over 200 portfolio companies globally since inception.
For more information, visit https://www.pfgrowth.com/.
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News Source: Fanplayr
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