Fyber parent RNTS Media raises $112m in convertible bond to drive mobile ad business
Fyber parent company RNTS Media raised $112m in convertible bond with the added option to invest a further $57m to expand its global mobile advertising business. RNTS acquired Fyber in October 2014 for $190m.
Fyber helps app developers grow their user base
Fyber continues to operate independently from its parent, providing a single dashboard solution for developers to manage their campaigns through. The company believes it is important for game developers to have an alternative to the likes of Facebook to advertise their products. Andreas Bodczek, Co-Founder and CEO, Fyber, explains:
“We are an independent company, and the market is nearing a tipping point in consolidation. To establish an independent platform next to all of the owned-and-operated competing platforms, you need to have access to a large amount of capital. It’s an appropriate action given our company’s ambitions. We are doubling-down on Fyber’s strategy of the last 18 months.”
He adds that the convertible bond option was the most capital-efficient way for Fyber to raise further funds, since it isn’t giving up more equity.
Fyber plans to use the capital to innovate its technologies, scaling as its business continues to expand. In addition, the company has plans for acquisitions which can accelerate product development.