In a recent development, Hamburg-based social intranet app COYO has secured a mezzanine loan from Amsterdam-based Pride Capital Partners to finance its national and international growth strategy. Pride Capital Partners was previously known as Main Mezzanine Capital, and back then it provided a loan to leading Dutch online travel company Travelbird — which got acquired by UK’s Secret Escape recently.
This is the first loan offered by Pride Capital Partners since it became an independent mezzanine provider. According to the company, the mezzanine loan will be used to finance COYO’s expansion strategy. Initially, the focus is on supporting the continuous development of the platform and strengthening the sales channel for large and extra-large clients. However, the loan amount is not disclosed.