InMobi Raises $100mn Debt From Tennenbaum Capital

$40 million of the amount will be used to pay off the debt raised last year from Hercules Technology Growth Capital. Earlier also the company had raised debts from Hercules Technology Growth Capital and Tennenbaum. Recently, InMobi launched Miip, a product based advertising platform.

InMobi has raised $100 million in debt from US-based Tennenbaum Capital Partners. InMobi will use $40 million of the amount to pay off the debt raised last year from Hercules Technology Growth Capital.

Earlier, the company had raised debts from Hercules Technology Growth Capital and Tennenbaum but the startup is now losing interest of VCs and investors as the company has been raising debts which clearly is not reflecting a positive growth for the company.

Recently, InMobi had launched Miip a user centric discovery led commerce platform. [Source]

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