Transaction: BWB acted for Lumi Technologies Ltd and its subsidiaries on £3m invoice discounting and overdraft facilities with Clydesdale Bank.

Client: Lumi Technologies Ltd (Lumi) is a global market leader providing real-time audience insight technology for research, live events, meetings and corporate communications, including via downloadable apps. It was one of the first technology companies of the Future Fifty, a government-backed fast-track program to support UK high-growth businesses. Lumi’s largest market is for meetings and events and examples of the kind of support their technology is able to offer include: the ability to track registration and attendance; and enabling simple and secure voting. Lumi is now expanding its offering into the education sector and the new funding package with Clydesdale Bank will finance some of this expansion. Their clients include eBay, Deutsche Bank and Vodafone and their client portfolio already gives them significant global reach.

Lawyers: Patrick Keown, partner in our banking and finance team, led the team assisted by Anna Przewoznik. The team liaised with US counsel in respect of Lumi’s US subsidiary.

Observations: This transaction for another large technology client is evidence of the corporate and commercial department’s technology expertise and our growing banking practice.

Posted on 07/03/2016 in Corporate & Commercial

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