Ding tops up with debt
When Arrowpoint Advisory advised mobile top-up provider Ding to use debt to finance its acquisition of iSend, it was the start of an intensive process of due diligence and tough questioning.
Owning an innovative technology is an obvious blessing in today's digital-led business world, but it can potentially create a hurdle when seeking finance, as potential funders try to understand how the technology works and how to assess risk and reward.
Ding, a provider of international top-up services for mobile phones, certainly ticks the innovation box. Set up by entrepreneur Mark Roden in 2006, the Dublin-based group enables customers in 130 countries to transfer small monetary values in the form of airtime or credit, to top up friends' and relatives' mobile phones.
The Arrowpoint Advisory team explained clearly why debt financing would be the best option for Ding.