Wednesday, June 19, 2024

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FINOM Brings Integrated E-Invoicing and Business Banking to Italian SMEs with Launch of Business Accounts and Local IBAN More Than Two Thirds Of Financial Services Organisations Say Network Security Threats Have Increased In The Last 18 Months, According To New Daisy Research Monavate and Know Your Customer Collaborate to Reinvent Compliance Across the European Payment Solutions Encompass Corporation Appoints Renowned Technical Leader Andrew Dunn as VP of Engineering to Help Bring Corporate Digital Identity Vision to Life RBC Launches Global Credit Connect With Nova Credit to Help Create a Smoother Financial Start for Newcomers to Canada Shareholders Of Tech Giants Fail To Address Pension Savers’ Concerns Surrounding AI UK General Election 2024: What it Means for Financial Services Firms Payments Variation Needed for International Expansion | Shopware | Nexi Roadshow: OMR Hamburg TerraPay and Thredd Partner to Build the Next Generation of Payment Solutions and Money Movement for Global Travel Providers Ageras Enters Into An Exclusive Agreement With Societe Generale To Acquire Shine And Become One Of The Leading European Providers Of Banking And Accounting Software For SMEs Mexican Fintech Unicorn Clip Announces US$100 Million Investment Open Banking Could Become a Mainstream Payment Method in 5 Years Time Surpassing BNPL, emerchantpay Research Finds Zilch Raises £100M Financing Deal to Fuel Expansion Strategy Number Of Growing Sectors Highest In 15 Months Dineo Crédito and Mambu Join Forces to Revolutionise Ethical Digital Lending in Spain

Social Mobile Secures $35 Million Credit Facility from Citi®

Social Mobile, a leader in delivering custom enterprise mobility solutions, is pleased to announce that it has secured a $35 million senior credit facility from Citi.

“Social Mobile has never received outside capital to grow its business until now. This credit facility from Citi is a significant milestone for our company,” said Benjamin Yogel, Chief Financial Officer of Social Mobile. “It will allow us to accelerate our growth plans and put us in a position to enter the M&A space that will further strengthen our market position.”

Social Mobile is a mobility solutions provider focused on providing services critical to organizations looking to deploy and/or bring to market innovative mobile products. They design, engineer, and manufacture turnkey solutions that enable our clients to bring smart devices to market quickly and efficiently, while also taking the burden of deploying and supporting these devices off their plate.

The funding announcement comes at a time when headlines are dominated by layoffs in the technology industry, and a looming recession and reduced spending by businesses on both talent and IT are under scrutiny. Social Mobile leadership has ensured that the company is in a strong position both financially and strategically to continue its growth into the future.

Social Mobile ONE: A Device-as-a-Service (DaaS) Offer

The company recently launched Social Mobile ONE, a DaaS offer combining its hardware, software, managed services, and wireless connectivity solutions into a monthly, per device subscription. With IT budgets under increased tightening and a looming recession, enterprises can benefit from an OpEx based model and still secure mobile devices for their business without heavy capital expenditure.

Companies In This Post

  1. FINOM Brings Integrated E-Invoicing and Business Banking to Italian SMEs with Launch of Business Accounts and Local IBAN Read more
  2. More Than Two Thirds Of Financial Services Organisations Say Network Security Threats Have Increased In The Last 18 Months, According To New Daisy Research Read more
  3. Monavate and Know Your Customer Collaborate to Reinvent Compliance Across the European Payment Solutions Read more
  4. Encompass Corporation Appoints Renowned Technical Leader Andrew Dunn as VP of Engineering to Help Bring Corporate Digital Identity Vision to Life Read more
  5. RBC Launches Global Credit Connect With Nova Credit to Help Create a Smoother Financial Start for Newcomers to Canada Read more