Luxembourg based CHOICE Technologies receives USD 3M from DAVIDSON TECHNOLOGY GROWTH DEBT.
CHOICE Technologies is the first choice in preventing utility-fraud. The company provides software and services to leading providers in the utility sector in emerging markets. CHOICE’s accurate prediction of gas, water or electricity unbilled usage has saved energy providers more than USD 1 billion.
Andreas Frank, Partner at DAVIDSON TECHNOLOGY GROWTH DEBT FUND is proud “to have closed the transaction and welcomes CHOICE to the portfolio of companies. This represents a very exciting opportunity for us to further support the growth of a hidden champion in its industry, who will successfully prosper due to its strong technology platform and outstanding, dedicated management team.”
Eran Davidson, Founder of DAVIDSON TECHNOLOGY GROWTH DEBT FUND confirms: “We strongly believe in supporting young and innovative, technology-driven companies that will change the world for the better and shape our future. The fund was set up to meet the strong and growing demand for financing mid/late stage tech companies in Europe with a focus on Germany. We are excited to now extend funding to other European companies.”
Denis Maia, CEO of CHOICE: “The European market continues to represent an interesting opportunity for CHOICE to increase our customer base. The call for electricity, gas and water efficiency in the region is strong and Choice is the most experienced and proven-results revenue assurance partner for the utilities. DAVIDSON TECHNOLOGY GROWTH DEBT FUND has shown an early interest in our business and proofs to be a reliable partner supporting CHOICE in its vision for the future. Their commitment and active engagement with our board and shareholders was a key element in the successful execution of this deal.”
DAVIDSON TECHNOLOGY GROWTH DEBT FUND was established by Eran Davidson in 2014 and is the first Venture Debt provider in Germany. Backed by a diverse group of top- tier family offices and private investors from Germany and Israel, DAVIDSON TECHNOLOGY GROWTH DEBT FUND continues to support the growth ecosystem in Germany and Europe with innovative debt financing solutions.
See more on German Tech Growth Fund initiatives: https://goo.gl/4h2ykN
DAVIDSON TECHNOLOGY GROWTH DEBT
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