SPARK-TECHNOLOGIES
6.1.2022 14:53:04 CET | Business Wire | Press release
SPARK Technologies, a top European electric car sharing company, announced that it has signed an agreement with GEM Global Yield LLC SCS, a Luxembourg-based private, alternative investment group, for a EUR 30 million capital commitment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220105005630/en/
Under the agreement, GEM commits to providing SPARK with a share subscription facility of up to EUR 30 million for a 36-month term following public listing of SPARK Technologies shares. SPARK will remain in control of the timing and, within certain limits, the maximum amount of each individual drawdown under this facility and has no minimum drawdown obligation.
In connection with the share subscription facility, on public listing, SPARK will issue warrants to GEM to purchase, for a period of three years after a public listing of SPARK’s common stock, up to 4% of the total equity interests of SPARK as of such public listing date at an exercise price equal to the Share Price at the time of SPARK’s public listing. The exercise of these warrants will act as another funding exercise for SPARK.
Subject to the listing occurring, the proceeds from this financing will be used towards entry of new EU markets, massive scale-up of SPARK’s customer base and fleet size, and further advancement of the proprietary software systems.
"The agreement with GEM helps secure funding to continue our doubling annual growth as we expand our electric car fleet and enter new cities. With certainty of capital upon listing on a major European public stock exchange, SPARK is now well-positioned as the company is about to scale up its development.” added Nerijus Dagilis, CEO and Chairman of SPARK Technologies.
About SPARK
SPARK Technologies is an electric car sharing company focused on improving everyday life by providing zero-emission, easily available and affordable commuting in major European cities. The platform provides 1,500 cars fleet and is accessible for sharing on SPARK mobile application in cities of European Union countries: Bucharest, Sofia, Plovdiv and Vilnius. As of today, the company has reached a customer base in excess of 250,000. SPARK is a privately owned company incorporated in Lithuania. For more information: www.espark.lt/en , www.spark.bg/en/ , www.espark.ro/en/ .
About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion, alternative investment group with offices in Paris, New York and Nassau (Bahamas). GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 480 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: http://www.gemny.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20220105005630/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
The Expensify Visa® Commercial Card Brings New Proactive Spend Controls to 14 Countries17.8.2026 15:00:00 CEST | Press release
New admin-defined spend rules let businesses control how, where, and when every card is used, stopping the wrong spend before it happens instead of cleaning it up after. Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, travel, and corporate cards, today expanded the reach of Expensify Card spend rules, the market-leading way for businesses to control corporate card spend before it happens. Available to businesses in 14 countries, spend rules let admins decide exactly how, where, and when each Expensify Card can be used, so only compliant transactions go through. Unlike traditional corporate cards that rely on after-the-fact expense review, the Expensify Card enforces policy at the point of purchase. Admins set the rules once, and the card handles the rest. With Expensify Card spend rules, admins can: Lock a card to a subscription. Give each recurring SaaS tool its own virtual card, so a vendor can only ever charge what it should. If the card owner changes teams or le
Riskified Analysis Finds Travel Fraudsters Are Adapting Faster Than Traditional Signals Can Keep Up, With May Flight Risk Up 32%17.8.2026 14:30:00 CEST | Press release
New Travel Industry report reveals sophisticated fraud rings are exploiting trusted customer behaviors across flights, hotels, and travel platforms Riskified (NYSE: RSKD), a global leader in ecommerce fraud and risk intelligence, today released new findings from its Travel Industry Insights report, revealing how sophisticated fraud rings and AI-enabled fraudsters are evolving their tactics across airlines, hotels, and online travel platforms. Riskified’s analysis shows that fraudsters are increasingly adapting their behavior to resemble legitimate travelers, making traditional fraud indicators less reliable and creating new challenges for travel merchants. Riskified’s analysis of hundreds of millions of travel transactions across flights, hotels, and land transportation found that flight fraud risk increased through the first five months of 2026, with May 2026 marking the sharpest year-over-year increase at 32% compared to May 2025. The findings show that sophisticated fraud activity i
PIF Delivers Strong Revenue and Profit Growth in 202517.8.2026 13:54:00 CEST | Press release
Revenue rose 9% to $120 billion while net profit more than doubled to $17 billionCumulative domestic investments reached more than $199 billion since 2021PIF has contributed more than $342 billion to Saudi Arabia’s real non-oil GDP between 2021 and 2025Assets under management exceed $900 billion, up from around $530 in 2021 and $150 billion in 2015 PIF today published its 2025 Annual Report demonstrating strong financial performance and continued progress against its long-term objectives. As a long-term investor with a unique mandate to drive the economic transformation of Saudi Arabia and deliver sustainable financial returns, PIF maintained a diversified portfolio in 2025, balancing returns with national impact and long-term resilience. Maintaining Financial Discipline In 2025, revenue rose 9% year on year to $120 billion, while net profit more than doubled to $17 billion, supported by stronger contributions from maturing portfolio companies. PIF retained over $900 billion in assets
Foundever Successfully Closes a Holistic Recapitalization, Reducing its Debt by Nearly $900 Million and Strengthening its Financial Position for Long-Term Growth17.8.2026 13:30:00 CEST | Press release
Secures $225 Million Equity Infusion; Revolving Credit Facility and Term Loan Maturities ExtendedBenoit Leclercq Appointed Interim Chief Executive Officer to Lead Foundever Through its Next Phase of Growth; Company Begins Formal Search Process for Permanent CEO Foundever Group S.A.® (“Foundever” or the “Company”) – a global leader in integrated customer experience, digital operations and analytics services, today announced that it has successfully closed a holistic recapitalization (the “Transaction”) in coordination with 95.4% of the lenders under its term loan facility (“Term Loan Lenders”), 100% of its revolving credit facility lenders (“RCF Lenders”), and the Company’s existing majority shareholders. The Transaction meaningfully strengthens Foundever’s financial foundation and positions the Company to invest in its growth strategy. Key terms of the Transaction include: Company's existing majority shareholders invest $225 million into common equity. Term loan facility exchange reduc
Uniphore Launches Marketing AI as Marketing Moves Beyond the CDP17.8.2026 13:30:00 CEST | Press release
Digital Twins and custom Small Language Models enable brands to know every customer better, simulate outcomes before spending and predict what’s next Uniphore, the Business AI company, today launched Marketing AI, ushering in a new era of enterprise marketing built on customer intelligence rather than customer data management. Uniphore Marketing AI gives marketers the ability to know every customer better than ever before, predict what each customer is likely to do next and simulate marketing outcomes before committing budget. The system continuously learns from every customer interaction, making its predictions more accurate with every cycle. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260817325069/en/ The Uniphore Marketing AI Flywheel: A Self-Learning System Named a Leader in the 2026 Gartner® Magic Quadrant™ for Customer Data Platforms, Uniphore has helped enterprises bring customer data together while providing sover
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom