Betty Blocks is proud to announce it has signed a new investment deal with Dutch bank NIBC. The no-code development provider becomes a client of SaaS Financing, a financing solution by NIBC that is the first of its kind in the software market. With this unique service, Betty Blocks will be able to better support its international expansion.
As the first member of the new financing program, Software as a Service (SaaS) provider Betty Blocks aims to further expand the brand’s presence within the rapidly growing low- and no-code market. Betty Blocks intends to use the new investments to communicate the current capabilities of its no-code development platform more effectively, as well as strengthen their thought leadership within the field of citizen development.
NIBC developed the unique and inventive financing structure to better match the needs of fast growing and scale-up businesses that offer cloud software based on a subscription business model. In the absence of tangible assets, SaaS Financing provides an alternative to traditional equity investments or general corporate lending. Funding is provided directly based on the recurring revenue under a structure benefitting both Betty Blocks and its clients. This solution facilitates Betty Blocks’ ambition to grow on an ongoing basis, while maintaining maximum control over the business and allowing it to keep investing in further growth.
Tim Obdam, CEO at Betty Blocks:
“Betty Blocks is fast growing and is internationally recognised as a leader in its field. With our continued expansion, we benefit from a funding solution that is both secure and provides flexibility to invest in further growth. We appreciate the in-depth knowledge of the IT industry of NIBC. With its unique SaaS Financing solution we are able to better facilitate our marketing strategy and international expansion. The structure also provides us with a sustainable solution to finance future growth on an ongoing basis and remain in control over our business.”
Annemiek Hofland, Sector Head of Technology at NIBC:
“Technology is playing an increasingly important role in business and life. NIBC has experience and offers expertise to support technology businesses like Betty Blocks in realising their ambitions. We strive to be the partner of choice for scaling SaaS companies by providing financing solutions that fit their unique needs. Our ambition at NIBC is to make a difference for companies with a subscription business model by being entrepreneurial, inventive and professional.”
About Betty Blocks
Betty Blocks is the leading no-code application development platform in the world. As the only no-code platform fully based in the cloud, Betty Blocks enables both IT professionals and citizen developers to build advanced, enterprise-grade applications efficiently and effectively. With a focus on making software development more accessible, Betty Blocks’ no-code platform empowers organisations to experiment towards the right solution with a greater developer workforce.
NIBC is suited to help entrepreneurs at their decisive moments. Now and in the future. As a bank for entrepreneurs, we are committed to cultivating our ‘THINK YES’ mentality by being flexible and agile and by matching our clients’ can-do attitude. We support our corporate clients in building their businesses. For our retail clients in the Netherlands, Germany and Belgium we offer mortgages, online savings and brokerage products that are accessible, easy to understand and fairly priced. Operating in the Netherlands (The Hague and Amsterdam), Germany and UK, our corporate clients business (mainly mid-market) offers advisory services and debt, mezzanine and equity financing solutions to entrepreneurs across select sectors and sub-sectors in which we have strong expertise and market positions. The midmarket is dynamic by nature and requires a bank that can respond quickly and in a highly flexible way. Our aim is to meet the market’s requirements at decisive moments such as mergers and acquisitions, management buy-outs, investments and strategic financings and re-financings.