Domain Registration

Meitav Dash jumps as fintech unit Liquidity secures funding

  • April 05, 2022

The share price of investment house Meitav Dash (TASE: MTDS) is up by more than 17% on the Tel Aviv Stock Exchange this morning, after the company’s announcement that fintech company Liquidity Capital, in which it has a 44.6% stake, had secured an investment of $40 million from Apollo Global Management, MUFG Innovation Partners of the Mitsubishi Bank group, and Spark Capital, and a further $5-10 million from other investors, under a SAFE (simple agreement for future equity). If a certain investment, as stipulated in the SAFE, is made in Liquidity within the timetable in the agreement, the parties will convert their investment to shares at a valuation of $800 million. If not, the conversion will be at a valuation of $550 million.

In addition, Apollo Global Management is giving Liquidity a renewable credit line of up to $425 million for five years.

Besides Meitav Dash, Spark Capital and MUFG Innovation Partners are existing shareholders in Liquidity.

Since it was founded in 2019, Liquidity has awarded credit totaling $600 million to dozens of companies. The company is headed by co-founder Ron Daniel.

Liquidity manages several debt funds in Israel, the Cayman Islands and Singapore that provide credit for growth companies.

Published by Globes, Israel business news – en.globes.co.il – on April 5, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


Article source: https://www.globes.co.il/en/article-1001408188

Related News

Search