Italian software unicorn Bending Spoons has secured over €500m in debt financing from global banking heavyweights including JPMorgan, Goldman Sachs, HSBC, BNP Paribas, Crédit Agricole, and Barclays. The funds will fuel its ongoing M&A strategy, with CEO Luca Ferrari confirming plans for at least one more acquisition by early 2025.
Founded in 2013, Bending Spoons has snapped up around 50 companies, including Komoot, Brightcove, WeTransfer, and Evernote. The company expects 2024 revenues to exceed $1.1bn, with all portfolio businesses profitable. This new funding comes on top of the $1bn Ferrari had already earmarked for three acquisitions this year, aiming to accelerate growth even further.
Equity backers include Baillie Gifford and Endeavor Catalyst.
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