MailUp Group announced grant of Eur 5.1 M from Italian Ministry of Economic Development within the ICT/Digital Agenda call
Funds include a non-refundable loan of Eur 1.3 M
MailUp S.p.A. (the “Company” or “MailUp Group”), a company listed on “AIM Italia / Mercato Alternativo del Capitale”, a multilateral trading facility regulated by Borsa Italiana, and operating in the marketing technology industry, announced today they received confirmation of a Eur 5.1 M grant for a R&D project denominated “NIMP – New Innovative Multilateral Platform”, to be carried out in the coming three-year period, in co-operation, among others, with the Politecnico di Milano University as scientific partner.
The proposed project belongs to the ICT/Digital Agenda government plan, specifically within the “Technologies for innovation in the creative, contents and social media industry”. It will allow the Company to enhance its competitive positioning in the relational marketing area, with a view to multichannel and co-operative approach. In detail, the planned investments will enable the development of new services and functions integrated within the MailUp platform, such as real-time content customisation, automation and multichannel approach (SMS, email, social, chat, etc), aiming at allowing clients to implement customer loyalty strategies via consumer engagement.
The grant includes (i) two five-year + three-year pre-amortizing facilities; a soft loan of Eur 3.5 M from Cassa Depositi e Prestiti and a market standard loan of Eur 0.4 M from Banca Popolare dell’Emilia Romagna, PLUS (ii) a non-refundable loan of Eur 1.3 M. Funds will be available ex post, based on appropriate documentation of actual costs and investments for the period 1 March 2018 – 28 February 2021, provided that all the relevant collaterals and corporate actions are taken.
Matteo Monfredini, Chairman and founder of MailUp Group, stated “We are very pleased of this grant, being among the first digital companies to take advantage of the Italian Ministry of Economic Development support for the development of a very innovative project.”
Nazzareno Gorni, CEO and founder of MailUp Group, stated “The availability of this additional funding will allow an acceleration in the investment process as well as new investments, thus fostering our technological leadership, particularly in the relational marketing area, with a view to multichannel and co-operative approach.”