The company plans to use the new funds to close another acquisition by early next year, reports Bloomberg.
Italian app designer Bending Spoons has raised more than €500m in debt to continue expanding its business through software acquisitions.
In a post on LinkedIn, Bending Spoons said that the latest financing was led by JP Morgan, BNP Paribas and Crédit Agricole with participation from Banco BPM, Bank of America, Barclays, Goldman Sachs, HSBC, Intesa Sanpaolo, Mizuho, Société Générale and Wells Fargo.
Company CEO Luca Ferrari said the plan is to use the new funds to close another acquisition by early next year, according to Bloomberg.
Reports suggest that this debt raise includes a €350m loan the company leveraged earlier this year and is supported by an additional €100m facility aimed at enabling further investments.
Headquartered in Milan, the 2013-founded Bending Spoons develops a suite of mobile apps with around 300m monthly active users. Over the years, it has acquired several popular products including WeTransfer, Evernote, Remini, Meetup and Splice.
Last year, the company acquired the US-based streaming tech Brightcove for $233m. While this year, Bending Spoons raised a $600m secured term loan to fund the Brightcove acquisition while adding cash flow for future purchases.
Some of its acquisitions, however, have proved challenging. Soon after its purchase, Meetup was subjected to restructuring efforts which led to a significant downsizing of its US-team.
While Evernote wound down its operations in the US and Chile in 2023. In addition, Bending Spoons announced that it would lay off 75pc of the WeTransfer staff last year.
In 2024, Bending Spoons raised $155m in an equity financing round which took its post-raise valuation to $2.55bn. So far, the company’s total raise comes to around $1.9bn, according to Crunchbase.
Some of its backers include big names such as musician and actor The Weeknd, actor Bradley Cooper and Eric Schmidt, Google’s former executive chair and CEO.
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