Golden Gekko (United Kingdom) - Nov 2007

unquote
01 November 2007

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Barcelona-based Active Capital Partners (ACP) has made an undisclosed investment in Golden Gekko, which has developed a new mobile application platform for marketing purposes, in a first round of funding. ACP sourced the deal through a network of contacts it made at the 3GSM Mobile World Congress, which was held in Barcelona in February. The sector is one which ACP has long been interested in due to its high growth potential, with Golden Gekko presenting a particularly attractive proposition due to its strong track record of attracting major clients. The new capital will be used to develop the company’s infrastructure, primarily through a strengthening of both the product development and sales teams. The funding from this round will be invested in multiple stages throughout the next 12 months.

Company

Golden Gekko’s mobile application platform has the ability to quickly create sophisticated java applications that can be used to generate new sales channels or to automate business processes for a mobile workforce. The company was founded in 2005 and has experienced rapid growth, with key projects delivered for clients such as Absolut Vodka, Accenture, Arla Foods, Cadbury’s, Coca-Cola, Novartis, Paramount, Perfetti, TV4, Unilever and Vodafone. Golden Gekko is headquartered in London and has large development facilities in Cambodia and Barcelona and sales offices in the UK, Spain and Sweden, currently employing 14 staff. Spending on mobile advertising was €622m worldwide in 2006, with predictions that this will rise to more than €8bn by 2011.

People

Ricard Söderberg led the investment for ACP and will join the Golden Gekko board.

Advisers

Company - Wallace, Willmore, Cromwell & Co, Charlotte Wheeldon (Legal)Equity - Burness Solicitors , Peter Lawson (Legal)Equity - ILV Asesores, Ignacio de Lara, Izquierdo (Legal)

Sourced from: UK & Ireland unquote" 358 (Dec 2007)