Aluna Partners underwrites a $5 Million Venture Debt facility for The Cloud
Aluna Partners underwrote a $5 Million Venture Debt facility for The Cloud to fund growth and working capital.
The Cloud, a food technology scale-up based in UAE, and Aluna Partners, a global investment banking boutique specialising in alternative credit solutions, today announced the closing of a new $5 million venture debt facility. Under the terms of the deal, The Cloud is expected to draw down the notional amount over a period of 2 years.
“We are incredibly grateful for the unparalleled professionalism demonstrated by Stefano and the Aluna Partners team. The timeline was tight, but their capacity to expedite the turn-around process was remarkable. From start to finish, we were able to raise the necessary debt in just 4 weeks. Stefano's flexibility with the terms made it an exceptionally smooth process, allowing us to focus on what we do best—driving innovation in the cloud industry.” said Georges Kharam, Chief Executive Officer of The Cloud.
“Aluna Partners brought a meticulous understanding of our industry to the table, setting them apart from others. Their in-depth research and tailored approach provided us with a valuation that truly reflects the unique aspects and potential of our business. We felt genuinely supported during negotiations, underlining the cooperative and insightful partnership we've had with Aluna Partners”
The Cloud is the world’s pioneer capex-free cloud kitchen platform connecting underutilised existing restaurants with online food delivery consumers.
Aluna Partners is an experienced underwriter in the technology sector. The firm has supported more than 26 technology scale-ups since 2021.
“Through this bespoke private credit solution, we are pleased to support The Cloud's continued growth while generating attractive returns for our investors," said Stefano Sciacca, Managing Director, at Aluna Partners. "We believe The Cloud will continue to gain market share in the GCC region, while aggressively expanding across Europe. We are excited to be part of the firm’s growth journey.”