Burges Salmon advises international startup on venture debt financing
Reading time: 2 minutes
Rachael Ruane
The banking team at Burges Salmon has acted as UK counsel for mobility startup Zoomo on a venture debt financing facility.
Zoomo, which is a Sydney-based mobility startup, recently raised AUS$16 million to accelerate its global expansion into new categories and markets.
Burges Salmon’s banking team acted as UK counsel for the startup to secure part of the capital in the form of a venture debt facility provided by venture capital firm OneVentures in Australia and private credit fund Viola Credit in Israel.
Partner Rachael Ruane and solicitor Luke Addison from the Burges Salmon banking team advised on the transaction.
Ms Ruane said: “Our banking team is experienced in working with early-stage and disruptive business interested in scaling up in their activity on a global level. We are extremely pleased to have supported Zoomo at such a significant juncture in its growth on the UK aspects of the funding package.”
Zoomo’s CEO and co-founder, Mina Nada, said: “A critical aspect of the funding for us was securing debt from large institutions such as Viola Credit and One Ventures. This means we will have scalable debt capital to fund the business’ growth even beyond what has been committed in this round.”
Share this article:
Subscribe to our newsletter to not miss articles like this one:
SUBSCRIBE
