Aluna Partners underwrites an up to $3.0M corporate term loan to Littlemees USA LLC to finance the acquisition of certain assets from a UK-based competitor
“Stefano Sciacca and Aluna Partners team advised us on the debt financing, the turnaround was fast, they were able to structure the deal in order for us to finance an horizontal acquisition”
Littlemees USA, an food technology company based in the USA, and Aluna Partners, a global investment banking boutique specialising in alternative credit solutions, today announced the closing of a new $3.0 million debt facility. Under the terms of the deal, Littlemees USA is expected to draw down the notional amount over a period of 24 months.
“Stefano Sciacca and Aluna Partners team advised us on the debt financing, the turnaround was fast, they were able to structure the deal in order for us to finance an horizontal acquisition” said Georges Karam, Chief Executive Officer & Co-Founder of The Cloud, parent company of Littlemees USA. “In this current market conditions, debt will play a crucial role for companies like ours and we believe this debt transaction will create value for our business”
Littlemees USA is a food tech platform, specialised in connecting underutilised kitchens and restaurants with online food delivery consumers in the US. The end users can order meals through Uber Eats, Doordash and other food aggregators’ apps from a network of tens of digital culinary brands owned by Littlemees USA. Users will benefit from a diverse selection of cuisines and decades of experience in designing best-in-class meal recipes. The acquisition of digital brands from a UK-based competitor allows Littlemees USA and its parent company The Cloud to further expand their culinary brands portfolio.
Aluna Partners is an experienced underwriter in the technology space. Since inception, the firm has supported more than 30 technology scale-ups to get easier access to capital.
The online food delivery market is a mega trend that is here to stay. We believe that Littlemees US and its parent The Cloud will gain significant market share in the US and UK market through this acquisition.” said Stefano Sciacca, Managing Director, at Aluna Partners. "We are excited to support such a fast-growing venture”