International mobile marketing automation and customer engagement leader, Upstream, is set to further accelerate its expansion plans after securing an €8m funding package from HSBC UK.
Enabling mobile customer engagement and acquisitions via technology and data, at a time when digitally connecting with customers is more important than ever, Upstream is working with top Mobile Network Operators (MNOs) such as Vodafone, MTN and TIM in emerging markets, as well as advertising partners and businesses across the finance, retail, education and FMCG sectors. The Revolving Credit Facility from HSBC UK will support Upstream’s plans to further expand into more verticals and consolidate its international footprint in high growth markets such as Brazil and South Africa, where connectivity infrastructure is currently less advanced and mobile phones drive most of total web traffic.
Upstream’s recently launched martech “Grow” platform, featuring technologies the company has developed over the last few years, targets 1.2bn mobile users. The technology platform leverages data, marketing automation and every mobile and digital channel available to boost digital acquisitions, engagement, sales, customer loyalty plans and any kind of conversion campaign its partners need. The funding from HSBC UK will also enable Upstream to continue developing its technology and consolidate its presence in emerging markets with solid mobile market growth for the coming years.
George Serfiotis, Chief Financial Officer at Upstream, said: “Digital disruption is leading economies to mobile-first ecosystems, Upstream’s natural “habitat” for many years. Having redesigned and improved our marketing automation platform, leveraging the latest technologies, data and tools, we engage our partners’ customers in a more conversational, accurate manner delivering tangible results that support their top line growth. The funding provided by HSBC UK will allow us to continue growing as brands across all economy sectors around the world turn to online to reach, engage and grow their customers. We would like to thank the whole team at HSBC UK, for seeing this potential as well as their support and responsiveness throughout the entire process.”
Victoria Ritchie, HSBC UK Area Director for Mid-Markets London City, added: “We are pleased to support Upstream with this credit line supporting them in their plans going forward. Mobile customer engagement and marketing automation are de facto growth areas and Upstream’s inroads and plans to make its presence felt, especially in high growth markets, with a blend of technology and people, are both solid and exciting. We look forward to working closely with them to achieve these goals.”
For more information please contact:
Upstream Corporate Communications