The European Investment Bank (EIB) will provide 15 million euros of five-year financing to the Spanish technology company Red Points with which it will finance the development of its software technologies and the general growth of the company in the global market.
This is the first ‘Venture Debt’ operation signed in Spain under the aegis of the Pan-European Guarantee Fund (EGF) as part of the 540,000 million euro package to combat the impact of the coronavirus.
Red Points, based in Barcelona, has a software platform that targets counterfeiting, piracy, identity theft and fraudulent distribution on the Internet thanks to the use of artificial intelligence.
The company has several global headquarters, 250 employees and more than 800 clients and, with the financing, it will also expand its global presence to offer its solution in a context marked by the rise of cybercrime.
The president and CEO of the firm, Laura Urquizu, has indicated that this milestone marks a financing strategy that will allow to extend the double-digit growth of the brand.
For his part, the Vice President of the EIB, Ricardo Mourinho, has indicated that the institution continues to develop economic measures that allow to counteract the effects caused by the pandemic and has indicated that, thanks to this financing, the growth of the company and digitization are encouraged and innovation.
