NIBC supports Betty Blocks in its ambition to grow on an ongoing basis
Betty Blocks is the leading no-code application development platform in the world. As the only, truly no-code platform, Betty Blocks enables building complex, enterprise-grade applications efficiently and effectively. With the focus on the people, Betty Blocks’ no-code platform empowers any organization to experiment towards the right solution and take control of their digital transformation.
Software-as-a-Service (SaaS) provider Betty Blocks aims to further expand its presence within the rapidly growing low- and no-code market. The company intends to use the newly acquired funds to communicate the current capabilities of its no-code development platform more effectively, strengthen their thought leadership within the field of citizen development, as well as support the international expansion.
NIBC provided Betty Blocks with a SaaS Financing solution, a unique and inventive financing structure that especially fits 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 for traditional equity investments and general corporate lending. The financing solution that is offered by NIBC is a first of its kind in the Dutch software market.
Funding is provided directly based on the recurring revenue under a structure benefitting both Betty Blocks and its clients. This solution facilitates NIBC’s 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.
“Betty Blocks is fast growing and 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”, Tim Obdam - owner and co-founder Betty Blocks.