French unicorn Mirakl SAS signed a €100 million ($110 million) revolving credit facility to finance future deals and develop its e-commerce business.
(Bloomberg) — French unicorn Mirakl SAS signed a €100 million ($110 million) revolving credit facility to finance future deals and develop its e-commerce business.
The loan will give the Paris-based company a “strong cash position” to look for opportunities to make acquisitions, Mirakl said in a statement on Tuesday.
Mirakl’s software is used by retailers such as Macy’s Inc., Asos Plc and Carrefour SA to create marketplaces on their websites, giving them a cut from selling products from other merchants without stocking the inventory directly.
Chief Executive Officer Adrien Nussenbaum said in an interview earlier this year that the company had “years” of financial runway after raising $555 million in a fundraising round in 2021 — unless Mirakl found a promising acquisition target.
Read More: Marketplace Unicorn Mirakl Sees 35% Growth, Keeps IPO in Sight
The company is screening a number of relevant artificial intelligence-based companies as potential targets, a spokesperson for Mirakl said, declining to comment further.
BNP Paribas SA, HSBC Holdings Plc, JPMorgan Chase & Co., Natixis SA and Societe Generale SA agreed to provide the credit facility, the company said in the statement.
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