Today, financial consolidation software company Konsolidator received a binding long-term loan offer of DKK 15.5 million, fulfilling the conditions for the DKK 18.5 million in private placement.

With the DKK 15.5 million and the private placement, Konsolidator has reached total financing of DKK 34 million. DKK 4 million more than expected. The board of directors has approved, that the loan agreement is accepted.

Konsolidator announced on March 29, 2023 the commitment of DKK 18.5 million, contingent upon fulfilling the condition of reaching minimum financing of DKK 30 million. With DKK 34 million, the requirements have been met for the private placement to be finalized.

With the net proceeds from the total financing of DKK 34 million, Konsolidator will have sufficient funds to repay the loan from Formue Nord and finance the operations during 2023.

The long-term loan of DKK 15.5 million is divided with DKK 8 million coming from 2L Kapital A/S and DKK 7.5 million coming from Denmark’s Export and Investment Fund (EIFO) formerly Vækstfonden. The loan is set to be repaid over 6 years, with the first two years exempt from repayment. Interest payments are paid quarterly. The interest rate is CIBOR3 plus 10.5 %.

The loan providers will receive a company charge of DKK 15.5 million from Konsolidator as collateral for the loan. Further, Konsolidator will issue 482.565 warrants to the loan providers.

CEO Claus Finderup Grove comments:

“We are pleased to have reached a sustainable agreement with 2L Kapital A/S and EIFO. With 2L Kapital A/S we have a partner that can provide know-how to Konsolidator’s continuous global growth journey. With EIFO we get a stable partner that understands SaaS growth companies and we look forward to a fruitful cooperation with both the loan providers and the new equity investors”.