- The EIB has enabled a loan facility of up to SEK 82.9 million (€8 million) for the Swedish-based online advertising technology innovator DanAds.
- DanAds is the advertising industry’s leading provider of self-service technology.
The European Investment Bank (EIB) has signed a loan agreement of up to SEK 82.895 million (€8 million) with Swedish company DanAds. The advertising technology innovator has developed a cost-efficient self-service advertisement booking platform for large publishers on a white label basis (seamlessly embedded into the publisher’s website using its branding and design). The platform enables these publishers to accept small and medium-sized enterprise (SME) clients that would not be profitable to sell advertising space to otherwise.
DanAds helps to give SMEs access to advertising space that they would otherwise be locked out of due to their small advertising budgets. It thereby boosts innovation, growth and job creation. The company’s strategy depends on significant research, development and innovation investments in order to lead technology development. The EIB financing of this early-stage company will enable it to fund its investment plan, and to benefit from a positive crowding-in effect for other investors.
“In the digital decade ahead, the IT economy in Europe will be decisive for jobs, growth, greening the economy, and the European Union’s positioning in the world,” said EIB Vice-President Thomas Östros. “Therefore, the EIB’s support for IT service industries is crucial, with an eye to both the green and digital transition. With its new platform, DanAds’ online services have the potential to be an important factor in reaching the European Union’s target for boosting the digital industry, and for SMEs to gain traction for their business, enhance their brand, and attract more capital.”
Co-founder and CEO of DanAds Istvan Beres added: “’We are proud to have EIB-backing in our efforts to give media owners fully automated, white-labelled IT infrastructure, thus reducing costs for SMEs. We’ve gone through the EIB's extensive screening process and see it as a quality stamp to have the backing of such an esteemed institution. This gives us the opportunity to invest into growth and secure our long-term strategic goals.”
Chair of the DanAds Board of Directors Anders Borg said: “The EIB plays a crucial role in fostering a dynamic startup cluster in Europe. European competitiveness has to be built on fast-growing tech-companies and no other institution can play a more important role than the EIB. It has been a pleasure to build a common partnership. DanAds is a fast-growing company and with the support of the EIB we can accelerate our leadership in self-service.”
About DanAds:
DanAds is the leading provider of self-serve advertising technology, connecting ad sellers (publishers) directly with advertisers of any size through fully automated ad sales platforms. DanAds provides publishers with their own branded platform, allowing them to dramatically reduce manual administration and monetise valuable user data. With the help of DanAds, all ad buyers can get access to premium advertising space independent of brand and budget, without expensive middlemen. DanAds serves clients of all sizes on a global scale, including Bloomberg Media, Tripadvisor, The Washington Post, Newscorp, Roku and SoundCloud. For more information about DanAds, visit www.danads.com