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Building the world’s first all-in-one Super Bundling subscription platform.

Bango, the Cambridge-based technology company, founded in 1999, has advanced the monetisation of digital content and services by providing alternative payment methods to mobile phone users worldwide and enabling content providers to reach more paying customers through global partnerships. 

 

Bango’s latest innovation, the Digital Vending Machine® is contributing to the growth of the subscriptions economy, offering greater choice and flexibility for subscribers. Bango also operates its Payments platform, enabling content providers to offer their users alternative payment methods, such as telco billing (Direct Carrier Billing - DCB) and digital wallets. Across both products, Bango serves over 125 telecommunications companies and over 115 content providers – including Amazon, Google, Microsoft and Netflix.

Bango to fund growth with $15m RCF provided by NatWest

Bango were seeking $15 million to support their ambitions for their fast-growing subscription bundling business and therefore approached NatWest – as a new bank for the company - to discuss financing options.

 

Based on discussions about Bango’s growth and innovation strategy and given the success of the business with their Digital Vending Machine and payments propositions, the NatWest deal team structured a $15 million Revolving Credit Facility on a 3-year tenor. 

NatWest’s commitment to support high growth businesses in the UK and Europe

Matt Wilson, Chief Financial Officer, Bango, commented: “This financing package is a milestone in Bango's growth story, further bolstering our financial foundation, while providing the capital flexibility and firepower to pursue our ambitious growth plans. It reflects the confidence that leading financial institutions like NatWest have in Bango’s strategy, execution and long-term vision. We are excited to be working together going forward.”

 

Chris Rees, Director, UK Structured Finance at NatWest, said: “As one of the biggest supporters of SMEs in Great Britain, committed to championing potential and removing barriers to success, we are delighted to support Bango to further grow their platform with this growth finance package. This transaction is a testament to our ambition to support high growth businesses in the UK and Europe. We look forward to continuing to work with Bango in the future.” 

Finance is subject to status. Security may be required. Product fees may apply.

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Image Credit: Bango.net Limited

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