EIB helps finance expansion of startup Red Points
The European Investment Bank has signed the first venture debt operation in Spain under the Pan-European Guarantee Fund – part of the €540 billion EU response to the economic impact of COVID-19 – with Spanish startup Red Points.
The EIB will provide Red Points with venture debt funding of up to €15 million over five years, financing the research and development of its software technologies and the overall growth of the company on the global market.
Red Points, a female-led software as a service company based in Barcelona, has developed a cloud software platform to combat counterfeiting, piracy, identity theft, and fraudulent online distribution. The EIB's financing will help Red Points to expand its global presence, accelerated after the start of the COVID-19 pandemic due to increased e-commerce and cybercrime, and to continue to develop leading technology in online brand protection.
