Video advertising marketplace Teads has announced that it has raised $47m of debt financing to enable its growth plans.
The outstream video advertising specialist will use the cash – from a bank syndicate comprising HSBC, BNPP, Bank of China, BPI and Banque Palantine – to acquire ad tech companies, whilst funding expansion into the Asian market.
“I am very pleased to see that banks are supporting our strategy to pursue M&A opportunities and strengthen our leading position as the number one video advertising marketplace in the world,” said Teads executive chairman Pierre Chappaz.
“This financing demonstrates the trust they have in Teads’ management capability to keep the right balance between growth and profitability.”
Teads has plans to expand in South East Asia this year, with its eye on China in 2017. Former MEC China president Christian Guinot will join to drive operations at the company’s new Singapore base.
“We already have a strong presence in all major American and European markets, and in Japan,” said Teads co-founder Betrand Quesada. “It is now time for us to become more deeply entrenched in the Asian markets, solidifying our worldwide operations to best serve our customers, brands, agencies, trading desks and publishers.”
Earlier in 2016, Teads partnered with UBS and Mashable.