Bond advises Betty Blocks on SaaS financing
Bond advised Betty Blocks on a structured ‘Software as a Service’ (SaaS) finance transaction. The finance was provided by NIBC. This finance construction is the first of its kind in the software market and supports Betty Blocks ambitions for further international expansion.
The extraordinary element of the finance structure is that the finance headroom will grow with the portfolio of SaaS contracts. This is a better fit with fast growing and scale-up business models than more traditional bank financings, especially in relation to businesses without many tangible fixed assets.
Betty Blocks is the leading no-code application development platform in the world. As the only no-code platform fully based in the cloud, Betty Blocks enables both IT professional and recreational developers to efficiently and effectively build advanced, enterprise-grade applications. With a focus on making software development more accessible, Betty Blocks’ no-code platform empowers organizations to experiment towards the right solution with a greater developmental workforce.
For more information, please see: https://blog.bettyblocks.com/betty-blocks-signs-investment-deal-with-saas-financing-initiative-by-nibc
