June 1 (SeeNews) - Bulgarian venture capital (VC) firm Eleven Capital [BUL:11C] said it has agreed to sell for 179,944 euro ($219,932) its minority stake in Metrilo as part of the Sofia-based customer analytics and intelligent marketing company’s planned acquision by French SaaS solutions provider Sendinblue.
The transaction concerns the transfer of 174 shares in Metrilo, Eleven Capital said in a bourse filing on Monday.
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Based on 2,018 shares outstanding, Eleven’s stake in the startup stands at just above 8.6%.
Additionally, Eleven has agreed to vote at a shareholders meeting in support of Metrilo’s acquisition by Sendinblue, it added.
The definitive agreement on the deal is set to be inked on June 1.
In October 2020, Eleven agreed to provide a 50,000 euro convertible loan to Metrilo with the investment aimed at supporting the Bulgarian startup’s business plans.
In the Monday bourse filing, the venture capital firm further said that it has reached an agreement for the due amount - currently standing at 51,561 euro, including interest - to be returned instead of being converted. The payment is expected upon completion of the Metrilo stake transfer.
Metrilo provides customer analytics and intelligent marketing solutions. It operates a platform that helps e-commerce brands grow by providing actionable insights based on marketing and customer data.
Sendinblue offers cloud-based digital marketing tools to over 175,000 growing companies around the world. It has offices in France, Germany, India and the U.S.
($ = 0.8179 euro)
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