NautilusLog closes seed-financing round
Hamburg-based start-up NautilusLog has closed a €1 million seed financing round. In addition to lead investor NBank Capital, various business angels have invested in the Digital Logbook. Lower Saxony’s port cities are also set to benefit from this investment with a further branch in Lower Saxony NautilusLog already being planned.
NautilusLog is a ShipTech start-up that sees itself as a digital data engine in shipping.
As a pioneer, the start-up not only sets new standards in digitalization in shipping, but also defines new business models via the platform.
The funds from the seed financing round will be used to expand the team and platform for further services and enable the company to serve the rapidly growing global customer demand.
The investors in this funding round underline the confidence in NautilusLog and its long-term vision to unite all maritime stakeholders as well as partners.
The investors’ confidence builds on TecPier’s 2019 pre-seed funding round as well as NautilusLog’s rapid growth. “We recognized NautilusLog’s potential early on and see our investment as a confirmation of this”. Within just one year, the team had already more than 2,000 vessels signed up. In December 2020 alone, the launch of a new service attracted an additional 700 vessels to the platform. This is just the beginning, NautilusLog has an ambitious roadmap and plans to launch more services,” explains Tim Reinsch, Managing Partner at TecPier.
The NautilusLog application already revolutionizes shipping by combining and making the most of data and knowledge available. The app transforms previously unusable data into usable expertise, stakeholders into partners, and obstacles into opportunities for growth. New services are developed that not only digitize shipping, but above all focus on automation and sustainability. Customers benefit thanks to efficient processes and lower costs, giving them the opportunity to pass on the advantages to their own customers.
This potential was also immediately recognized by the investment company of the Lower Saxony state bank (NBank Capital) as the main investor. “Laws and regulations for shipping are becoming increasingly complex, but technical progress does not always develop in parallel. Stricter environmental conditions and international competition are creating enormous cost pressures. Therefore, the market is just asking for NautilusLog’s digital solutions,” explains Martin Ranić, investment manager at NBank Capital.
NautilusLog currently employs 14 people and will continue to grow strongly in the future. “We are excited to grow our team to be able to place new services faster into the market. To this end, we will also continue to invest in marketing and sales to be able to serve the rapidly growing global demand for our digital solutions,” commented Otto Klemke, Co-Founder and CEO of NautilusLog. “Through our investors, we not only gain capital, but strategic support for our international growth plans.”
In addition to NBank Capital as the main investor, another investment company as well as business angels have participated, some of whom have excellent networks in the international shipping industry and have already been mentoring Mr. Klemke since 2017.
Thus, NautilusLog is accompanied in various networks by well-known experts, companies and more and more interested market participants. The start-up is also contributing its innovations for shipping to a new ISO standard.
Austria: Powertrain developer AVL receives EIB top-up financing of €50 million
€50 million in EIB financing backs the research and development (R&D) programme of AVL, a leading Austrian engineering company in the automotive sector
The loan comes on top of a 2017 financing to support AVL’s R&D in electrified powertrains and autonomous driving
The operation benefits from a guarantee under the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe
The European Investment Bank (EIB) is providing a €50 million loan to AVL List GmbH (AVL). The Austrian company specialises in the development of innovative powertrain systems for global automotive and transport industries. The EIB financing comes on top of a €70 million loan signed in December 2017 to support AVL’s electric drive-related activities, including selected R&D projects for hybrid and fully electric powertrains, as well as advanced driver assistance systems for connected and autonomous vehicles. The original loan and the top-up were possible thanks to the European Fund for Strategic Investments (EFSI). EFSI is the main pillar of the Investment Plan for Europe, under which the EIB Group and the European Commission are working together as strategic partners to boost the competitiveness of the European economy.
“Electric powertrains are one way to reach zero-emission mobility, and mobility is key when it comes to reaching the European climate targets,” said Andrew McDowell, EIB Vice-President responsible for activities in Austria. “As the EU bank, we support pioneering technological champions who help shape our future with high quality, cost-effective and sustainable technology. Our top-up loan to AVL will enable them to build this kind of cutting-edge technology. It will pave the way for more customer and environmentally friendly vehicles, which is all the more important given that many companies have put their R&D investments on hold due to the current economic uncertainty.”
Yorck Schmidt, Chief Financial Officer of AVL, explained: “The loan granted by the EIB is testimony to the very successful ongoing partnership between AVL and the EIB since 2007. AVL will use the funds provided to support its in-house research for the development of electric powertrains (hybrid and full hybrid), fuel cell systems and automated vehicles (ADAS/AD), as well as for the development of related measuring and testing systems and simulation technologies. This EIB financing represents a major contribution to AVL’s ongoing efforts to develop highly creative, advanced and customer-specific powertrain system solutions that, among other things, serve the goal of achieving significant reductions in CO2 emissions for cleaner vehicles.”
EIB provides maiden financing to in’li to speed up construction of affordable housing in Île-de-France
– €250 million loan to subsidiary of Action Logement focused on affordable housing in Île-de-France
– 2 580 housing units planned in four years for 6 000 Île-de-France residents
– Operation guaranteed by the European Fund for Strategic Investments (EFSI)
The European Investment Bank (EIB) announced the signature of a €250 million financing agreement with in’li, the Action Logement Group’s subsidiary focused on affordable housing in Île-de-France. This maiden operation between the EIB and in’li is an important step in speeding up the construction of affordable housing in the region.
In’li has set its goals particularly high, with nearly 80 000 new housing units to be built over the next 10 years, including 37 200 in the first five years, for a total investment amount of €4.3 billion. These new constructions will mainly be concentrated in Paris and 76 neighbouring municipalities.
The EIB loan granted under the European Fund for Strategic Investments (EFSI) will further these ambitions by financing 2 580 new constructions, in particular by providing in’li with the sources of finance it needs to support the launch of its extensive programme.
Overall, this project will help create a more balanced local residential market, with a sufficient number of homes to meet the current needs of middle-income households, in most cases key professionals for a functioning society. In addition, it will make a significant contribution to urban renewal, cohesion and improving living standards for middle-income households. Around 6 000 Île-de-France residents will benefit from these homes whose construction will generate 5 000 person-years of employment during the implementation phase. Lastly, each home built will meet the strictest environmental criteria, in accordance with the EIB’s commitment to finance projects with the highest climate action performance targets.
“Since the coronavirus pandemic reached Europe the EIB has been fully mobilised with the European Commission to deploy a support plan of up to €40 billion in aid for the hardest hit SMEs. Nonetheless, the EIB’s long-term financing of the economy aimed at kick-starting the eventual economic recovery continues in parallel, with a focus on climate action”, said EIB Vice-President Ambroise Fayolle. “In this context, supporting the housing and construction market in Île-de-France via this loan to in’li addresses three priorities: improving the job situation, reducing the energy consumption of homes, and providing SMEs in the building sector, in particular, with enough business to facilitate their recovery.”
European Commissioner for Economy Paolo Gentiloni stated: “In big cities, young workers and middle-income professionals have difficulty finding a place to live. Thanks to this €250 million loan supported by the Investment Plan for Europe, Action Logement’s subsidiary in’li will be able to build 2 580 affordable homes which will benefit nearly 6 000 people living in Île-de-France. This is an excellent initiative that will improve the daily lives of middle-income households in Île-de-France, facilitate professional mobility and contribute to urban renewal in compliance with the latest environmental standards.”
Chairman of the Executive Board of in’li Benoist Apparu stressed: “Despite the global pandemic that is especially impacting us here in Europe, in’li is actively preparing for the end of the crisis to meet the ambitious target set by Action Logement. For two years now, we have been diversifying our sources of financing to this effect. We are delighted with this agreement with the EIB as it will enable us to develop new affordable homes for workers in Île-de-France as close as possible to their workplaces, which will maintain their purchasing power thanks to rents on average 20% lower than on the private market.”
Poland: EIB Group and Europejski Fundusz Leasingowy join forces to support financing for SMEs, micro-enterprises and female entrepreneurship
– Securitisation of a leasing portfolio worth PLN 2.1 billion (approximately EUR 490 million) will unlock PLN 3.1 billion (approximately EUR 723 million) of additional funds for Polish companies
– The transaction is guaranteed by the EIB Group thanks to the Juncker Plan
– One third of the new leases benefiting from the Juncker Plan will be dedicated to women-led businesses
The European Investment Bank Group (EIB Group), formed by the European Investment Bank (EIB) and the European Investment Fund (EIF), has participated in a synthetic securitisation in Poland originated by the leasing company Europejski Fundusz Leasingowy (EFL), a member of the Crédit Agricole (CASA) Group. The transaction supports new financing to SMEs, mid-caps and micro-enterprises in Poland. It is also expected to promote female entrepreneurship.
The transaction is guaranteed by the European Fund for Strategic Investments (EFSI), which is the financial pillar of the Juncker Plan. StormHarbour acted as arranger for EFL and Crédit Agricole CIB advised Crédit Agricole Group.
The EIB Group has provided EFL with a guarantee covering both the senior and mezzanine tranches of a PLN 2.1 billion (approximately EUR 490 million) SME portfolio. The mezzanine tranche of PLN 314 million (EUR 73 million) benefits from the support of the Juncker Plan under the EIB’s mandate with the European Commission. The risks relating to the senior tranche of PLN 1.76 billion (EUR 410 million) is covered by the EIF under its own funds.
The mezzanine tranche supported by the Juncker Plan will promote female entrepreneurship in Poland. A target of 33% of the new financing made available by EFL under the guarantee provided by the EIB on the mezzanine tranche will be dedicated to women entrepreneurs and women-led businesses.
EIF Chief Executive Pierluigi Gilibert said: “The EIF is delighted to be participating in the EIB Group’s synthetic SME securitisation agreement in Poland to support Polish SMEs. The Fund’s experience in mobilising investment, together with the Bank and the support of the Juncker Plan, gets validation by this new transaction with a trusted partner. By releasing regulatory capital through the securitisation of leases, EFL will enhance its capacity to provide SME financing at improved terms.”
EIB Vice-President Lilyana Pavlova, who oversees operations in Poland and Cohesion countries, commented: “Supporting small and medium-sized enterprises as drivers for economic growth is a core objective of the EIB Group. Promoting companies with strong female participation is equally important in order to foster a healthier and more dynamic business environment. By making sure that a relevant part of the new financing benefits female entrepreneurship, the EIB and EFL will contribute to the further development of the Polish economy.”
EFL Chief Financial Officer Paweł Bojko said: “This is the first synthetic transaction for EFL and we are very proud that after closing our first ever cash securitisation in 2017, we were able to explore another niche of the securitisation market this year. We appreciate the EIB Group’s trust in EFL and we are proud to pursue common goals for social aims in Poland, such as supporting SMEs and facilitating gender equality in business. The transaction will benefit not only the company itself but will also strengthen the CASA Group as a whole, helping to further develop the Group’s activities in Poland.”
European Commissioner for the Economy, Paolo Gentiloni, said: “With this collaboration, the European Union is helping micro-enterprises and small businesses in Poland to grow and create new jobs. With the backing of the Investment Plan guarantee, the agreement will see PLN 3.1 billion in new financing. I am especially pleased that a third of that money will be channelled towards women-led companies. This is a great initiative at national level with EU support.”
Additional information about the transaction
Thanks to the additional credit capacity generated by the EIB Group’s participation in the operation, EFL will contractually commit to generate four times the amount of the guaranteed portfolio in new EFSI eligible financing of new projects undertaken by Polish companies.
This will translate into new financing made available to final beneficiaries for a total amount of up to PLN 3.1 billion of new SME financing, equivalent to EUR 723 million, of which PLN 1.76 billion (EUR 411million) made possible by the EIF and PLN 1.26 billion (294 million EUR) by the EIB. Such additional funding will improve the companies’ access to finance and trigger new investments, thereby contributing to employment, innovation and economic growth.
The operation will support women entrepreneurship: businesses with more than a 50% share of female ownership and for which more than 50% of the company’s managers are women; or women leadership: businesses for which both the executive management and, when there is one, the board/investment committee consists of more than 50% women.
The transaction is EFL’s second securitisation transaction conducted with the participation of the EIB Group, and the first one guaranteed by the Juncker Plan.
The previous operation between the EIB Group and EFL, in the form of a Senior Tranche true sale securitisation, was signed in November 2017 and all the funds have been allocated to beneficiaries. About 80% of the allocations were made in Cohesion regions in Poland and 60% went to micro-enterprises. It is expected that the new operation will have a similar uptake.
This is also the fourth synthetic SME securitisation transaction in which the EIB and the EIF are jointly participating in Poland.
NBG & European Bank for Reconstruction and development act as exclusive joint underwriters of an up to EUR 300M financing to NBG Pangea R.E.I.C.
National Bank of Greece S.A. (“NBG”) and the European Bank for Reconstruction and Development (“EBRD” and together with NBG, the “Banks”) are pleased to announce the successful completion of the structuring, co-arrangement and signing for an up to EUR 300 m. bond loan facility (the “Facility”) to NBG PANGAEA R.E.I.C. (the “Company”), exclusively underwritten in full by the Banks. The Facility’s respective underwriting amounts are € 250 m. for NBG and € 50 m. for EBRD.
The Facility proceeds was used to refinance outstanding debt of the Company amounting to € 237.5m., whilst the remaining amount will be used to finance part of the Company’s investment plan. The transaction was successfully completed within a tight timeline, addressing certain structural complexities intrinsic to deals of this nature, as well as the commercial requirements of the parties.
NBG and EBRD are joining forces to support the Greek real estate sector, through the financing of NBG Pangaea REIC, the country’s leading real estate investment company. The Company’s portfolio consists of more than 350 commercial properties, mainly office and retail buildings across Greece and other key markets of South-Eastern Europe, most of which at prime location.
The Facility supports the Company’s portfolio expansion and sustainable business development targets, promoting in parallel its strategic focus on sustainable growth. Gradually more buildings in Greece will meet latest standards of sustainability and eco-friendliness, as the Company will deploy 50% of the EBRD Facility part for green investments in properties such as energy and resource efficiency, insulation and state-of-the-art technology to lessen their environmental footprint. Such properties are expected to achieve at least LEED “Gold” or BREEAM “Very Good” certifications, whilst the Company will also introduce GRESB reporting, the Global Real Estate Sustainability Benchmark, which aims to enhance value by assessing and supporting sustainability practices.
NATIONAL BANK OF GREECE S.A. ACTS AS EXCLUSIVE UNDERWRITER OF AN UP TO EUR 41.745M FINANCING TO EGYPT’S ELSEWEDY ELECTRIC FOR THE ACQUISTION OF A PORTFOLIO OF RENEWABLE ENERGY PROJECTS IN GREECE
National Bank of Greece S.A. (“NBG”) is pleased to announce the successful underwriting and arrangement on an exclusive basis of an up to EUR41.745m bilateral bond loan financing pack (the “Facility”) to Elsewedy Electric (the “Company”).
The Facility is successfully utilized, with its proceeds being used to partially finance the Company’s acquisition of a portfolio of renewable energy projects in Greece. The Facility is structured as a long-term, non-recourse portfolio financing to the Company, aligned to the customary principles of the international leveraged buyout market. The transaction was completed in accordance with a tight timeline customised to meet the Company’s needs, whilst addressing diverse structural complexities and confidentiality requirements implied by private transactions of such nature.
Mr. Vassilis Karamouzis, Assistant General Manager, Corporate & Investment Banking at NBG comments: “We are pleased to support Elsewedy Electric, an established Energy player of the Middle East, in its strategic entry to Greece. The local secondary Energy market evolves into a key driver of Foreign Direct Investment in the country, due to its relative value mostly in terms of locked tariffs of existing projects. The transaction falls at the forefront of NBG’s corporate strategy to optimally employ our robust liquidity, as it bridges our top capabilities in financing Energy sector initiatives, with our strong focus to facilitate international demand for Greek risk.
“White & Case LLP and Potamitis Vekris law firm acted respectively as NBG’s international and Greek legal counsel in relation to the transaction.