Kaleyra, Inc. (NYSE American: KLR) (KLR WS) a cloud communications software provider delivering a secure system of application programming interfaces (APIs) and connectivity solutions in the API/Communications Platform as a Service (CPaaS) market, has announced that its subsidiary, Kaleyra S.p.A., has entered into a general unsecured loan agreement with Intesa Sanpaolo, S.p.A. of Italy in the amount of USD 9.0 million (the Loan was disbursed in Euros for an amount of EUR 7.9 million with an exchange rate equal to 0.87602 at the signing date July 16, 2020), the company said.
Proceeds are being earmarked to help accelerate Kaleyra´s growth.
The Loan Agreement has a maturity of 72 months from the date of disbursement and bears interest at a variable rate equal to the three-month Euribor plus a spread of 1.65%. The loan is to be repaid in 16 quarterly installments with a grace period of 24 months. The loan is guaranteed by SACE S.p.A., the Italian state-owned export credit finance agency, and is made pursuant to a program to address COVID‑19 and Italian Government support for Italian businesses.
An additional USD 6 million of funding from the same bank but with a guarantee from a second government agency is expected to be received by Kaleyra S.p.A. in the next few weeks.
Kaleyra is a global group providing mobile communication services for financial institutions and enterprises of all sizes worldwide. Through its proprietary platform, Kaleyra manages multi-channel integrated communication services on a global scale, comprising of messages, push notifications, e-mail, instant messaging, voice services and chatbots. Kaleyra´s technology today makes it possible to safely and securely manage billions of messages monthly with a reach to hundreds of MNOs and over 190 countries. For more information: https://www.kaleyra.com/.