Daily News: December 8, 2014

Barclays Provides Kano Facility

Barclays provided Kano with a $1 million credit facility to support increased stock demand in the run up to the Christmas period and beyond.

Kano, launched on Kickstarter in November 2013, raised $1.5 million from 87 countries in just one month, and became available for general purchase in October of this year. Kano, which received an significant level of interest both for its Kickstarter and recent public launch, will use the funds to ship its product to current and future customers.

Co-founder and CEO of Kano Yonatan Raz-Fridman commented, “There has been a significant uptake among parents keen to equip their children with a hugely valuable skill; one now recognised by the Department of Education as vital to the UK’s position as a tech powerhouse in years to come. We’ve experienced a demand for Kano globally and with Barclays as a strong financial partner supporting our growth strategy, we look forward to fulfilling the demand for our computer and coding kit, around the world.”

Juliet Rogan, relationship director, Barclays’ Technology, Media and Telecoms team, said, “Kano is an incredibly exciting business with all the right ingredients for success. It has a significant role to play in delivering the next generation of computer programmers to a booming British technology sector, and it is immensely rewarding for us at Barclays when we are able to provide services to a business that is making such a positive social impact.”

Kano is a build-and-code-yourself computer.