European Investment Bank supports Kiosked with EUR 15 million
The European Investment Bank (EIB) has granted a 15-million-euro loan to the Finnish online advertising technology company Kiosked for its research and innovation activities.
This is the first EIB’s equity-type transaction in Finland. It is supported by InnovFin – EU Finance for Innovators programme, with the financial backing of the European Union under Horizon 2020, EU research programme for 2014–2020.
Kiosked enables online publishers to gain additional revenue by providing advertisers high-performance, intelligent and programmatic ad placements. With the EIB loan, Kiosked will accelerate the development of its innovative advertising platforms and mobile technologies for real-time bidding and data capabilities.
“InnovFin – EU Finance for Innovators joint financial instruments aim to support midcap companies that consistently prove to be particularly strong in innovation. Kiosked, as a fast-growing and innovative technology company with significant growth potential, is an ideal candidate for this facility,” says Jan Vapaavuori, EIB vice-president responsible for operations in Finland.
“As the next-generation audience monetisation platform, our aim is to drive significant global growth. We know the EIB genuinely understands and supports our unique approach to delivering a superior advertising performance,” says Micke Paqvalén, CEO of Kiosked.
Kiosked’s R&D operations are carried out mainly in Finland and it plans to increase its number of employees fourfold over the next three years.
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