The investment banking team of M&A advisor Palm Tree advised on a debt financing transaction for The Neato Company, with funds being provided by an institutional investment fund. Financial details of the private transaction were not disclosed.
Based in Las Vegas, Neato is a digital and data-centered marketing company that uses proprietary data analysis models and digital customer retention tools to help brands in the world manage and grow their e-commerce presence. Today, Neato is a top 500 storefront on Amazon with a presence in eight countries. The financing will help the company execute its growth goals globally.
“We were very pleased to assist Neato with raising debt to support the company’s rapid growth,” Phillip Cooper, managing director of Palm Tree, said. “This successful debt financing provides Neato the funds to expand its operations and accelerate customer acquisition while minimizing debt amortization and the ownership dilution that an equity raise would deliver in a difficult market.”
“As a strategic partner that accelerates brand success on digital marketplaces, Neato saw explosive growth during the pandemic, when many retailers refocused on e-commerce,” Anthony Connelly, CEO of Neato, said. “This new financing will enable us to continue on our growth trajectory, invest in new technology and resources, and continue to exceed expectations in helping brands achieve their maximum potential online.”
