Success stories

Executing a transatlantic M&A strategy

UK-based BoClips, the world’s leading educational video platform, used venture debt to help fund a strategic acquisition in the United States.

As a trusted provider of video content for school and university curriculums, BoClips was looking to expand its operations in the United States. Acquiring Boston-based Listenwise, the US market leader in curriculum-geared podcasts, was the perfect opportunity to do so.

BoClips turned to Espresso for a £7 million credit facility to help fund the acquisition. The facility allowed the company to complete the transaction quickly, positioning it to offer an even more compelling solution, drive value, and unlock cross-selling opportunities.

Today, BoClips’ unique educational video and audio content offering is helping accelerate the company’s growth in the US and around the world.

£7 million Senior credit facility

Date of facility November 2021

Company profile BoClips is the world’s leading educational video platform

David Bainbridge

CEO and Founder, Boclips

Espresso has been great to work with. Their flexibility and experience played a critical part in our being able to successfully execute this important M&A transaction.

Achieving a higher valuation

Austin-based Tenfold, the leading iPaaS for contact centers, used venture debt to increase its valuation prior to being acquired.

As the leading Integration Platform as a Service (iPaaS) for contact centers, Tenfold integrates with CRMs like Salesforce and Microsoft Dynamics, and voice providers, such as Avaya and RingCentral, to create a unified customer profile. In early 2021, the company secured a $12 million credit facility from Espresso Capital to accelerate its marketing efforts, make key hires across the business, and drive growth.

By allowing Tenfold to further scale its business and extend its runway, the facility helped put the company in a position of strength when it was acquired by LivePerson, Inc., (Nasdaq: LPSN) later that year.

As a result, the company achieved a higher valuation, which ultimately led to a better outcome for the Tenfold team and its existing investors Andreessen Horowitz and Next Coast Ventures.

$12 million Junior credit facility

Date of facility May 2021

Company profile Tenfold is the leading iPaaS for contact centers

Andreessen Horowitz, Next Coast Ventures

Jeff Cotten

CEO, Tenfold

Espresso was a great partner. Not only do we share a common philosophy around the importance of investing for growth, Espresso also brings significant investment experience to the table that ultimately helped better position us for this great exit.

Positioning for an equity raise

Chicago-based Hologram, a global cellular platform for IoT connectivity, used venture debt to help position itself for a favorable equity raise.

Hologram develops and delivers cloud-based internet connectivity solutions for IoT device management. Its solutions enable makers, OEMs, and systems integrators to connect devices to the internet through cellular networks.

Looking to pay grow the business, Hologram secured a credit facility from Espresso in September 2020, which helped put the company in a stronger position as it pursued its next equity raise.

Just over a year later, Hologram closed a massive $65 million Series B in a round led by Tiger Global, with participation from Bullpen Capital, NextView Ventures, and Mucker Capital.

Undisclosed Senior credit facility

Date of facility September 2020

Company profile Hologram is a global cellular platform for IoT connectivity

Drive Capital, Capital Midwest Fund, Bullpen Capital

Ben Forgan

CEO and Co-Founder, Hologram

Espresso was able to offer financing solutions to help us ambitiously pursue our growth and new equity funding at the same time.

Fueling growth

Encino, California-based PaymentCloud, a leading provider of credit card processing solutions for retail, eCommerce, and non-traditional businesses, used venture debt to accelerate growth.

As a broker between merchants, payment processors, and banks, PaymentCloud wanted to take advantage of the tremendous growth opportunities it was seeing within its business. It needed capital to pursue that growth, but didn’t want to suffer any dilution to get it. That made venture debt the obvious choice.

Working with Espresso, PaymentCloud secured a $10 million credit facility that allowed the company to grow its core business by making strategic investments in marketing and product development, while also expanding its team with important new hires. 

Today, the company is bigger and stronger than ever before and in a better overall position to raise equity, explore M&A opportunities, or pursue many other strategic objectives.

$10 million Senior credit facility

Date of facility June 2021

Company profile PaymentCloud is a leading provider of credit card processing solutions

Shawn Silver

CEO, PaymentCloud

Working with Espresso has been a great experience. It’s an excellent team and one that instantly made us feel comfortable. We’ll definitely expand our partnership over time as we look to further grow the business both organically and through strategic acquisitions.

Bridging to equity

Columbus-based Matic Insurance, a leading digital insurance agency, used venture debt to help position itself for a favorable equity raise.

Matic has been changing the insurtech industry landscape since 2014 by integrating insurance within the home and auto ownership experience. Today, Matic’s digital insurance marketplace has over 40 A-rated home and auto carriers, as well as distribution partners in industries ranging from mortgage origination and servicing to banking, real estate, personal finance, and more.

In early 2022, the company took a $15 million credit facility from Espresso Capital, using the funds to make strategic investments into its core platform while also expanding its offerings into other verticals. The facility provides Matic with greater flexibility ahead of its next equity raise.

$15 million Junior credit facility

Date of facility January 2022

Company profile Matic is a leading digital insurance agency

Anthemis Group, IA Capital Group, MTech Capital

Stuart Rhodes

CFO, Matic Insurance

We like Espresso because they’re not a classical lender. “They were easy to work with, got things done fast, and were able to structure a facility that complemented the bank line we already had in place. This facility gives us tremendous flexibility ahead of going to market to raise our Series C.