Mobile marketing firm Mobvista has been granted a $100 million credit facility with the Bank of China.
The deal is said to represent the largest agreement in the history of China’s mobile marketing sector.
Mobvista aims to use the money accelerate its expansion in overseas markets.
That could mean further acquisitions for the firm, which bought ad company NativeX and analytics platform GameAnalytics in 2016.
“For an asset-light Internet company, the trust behind the strategic cooperation with Bank of China wasn’t easy to build,” said Mobvista CEO Wei Duan.
A statement from the Bank of China added: “Today’s credit facility is based on the recognition to mobile marketing industry, which is in line with Bank of China’s commitment to become an efficient and professional partner addressing all demands of small and medium businesses.”
Mobvista was founded in 2013 in Guangzhou, China, and focuses on user acquisition and traffic monetisation services. The company floated on China’s National Equities Exchange and Quotations for small-to-medium-sized businesses.
The marketing outfit’s half year revenues for 2016 were $118 million, from which it generated a net profit of $11.5 million.
Craig Chapple is Editor of PocketGamer.biz. He has previously held roles as Deputy Editor at Develop and Online Editor at Nintendo of Europe.