Daily News: May 22, 2014

Business Capital Secured Mezz Financing for Software & Services Company

Business Capital said it secured a mezzanine credit facility for Silicon Valley-based Memeo, which completed its sale to GLOBAL Unicom, effective March 31, 2014.

Memeo positioned itself for an acquisition in order to capitalize on consolidation trends in the cloud storage and collaboration market. The financing delivered by Business Capital allowed Memeo to continue to grow and operate without interruption, further improve its balance sheet and led to a successful sale to GLOBAL Unicom.

Memeo is a technology venture capital-backed company that built a global and extensible cloud-based mobile platform enabling digital file sharing, synchronization and back-up for smartphones, tablets, personal computers and laptops.

“Business Capital was an invaluable adviser and helped Memeo quickly identify and put in place its pre-acquisition financing. They moved at warp speed and did an amazing job,” said Memeo CEO George Northup.