BOLERO.NET COMPLETES $50-MILLION PRIVATE PLACEMENT
Bolero.net, an online trade document facilitator based in London, has finished its first-round funding of $50 million. The money will be used to “make our services faster to implement, easier to use, and cheaper to deliver,” said Barry Morse, chief executive officer.
Contributors to the funding include Baring Asia Private Equity Fund II, $15 million; Palio Portfolio Ltd., $5 million; and Apax Partners Europe IV fund, $30 million. Bolero.net’s existing shareholders, SWIFT (the Society for Worldwide Interbank Telecommunications) and the Through Transport Club have maintained their participation.
Bolero.net reported that 50 large multinational corporations, banks, logistics companies and business-to-business exchanges are now part of its network, supported by 35 application and service partners.