SaaS Firm Mirakl Gets $110 Million to Fund M&A Plans

Software-as-a-Service (SaaS) platform Mirakl hopes to grow after signing a $109.8 million revolving credit facility.

The company announced the new revolving credit facility (RCF) Tuesday (Aug. 1), noting it followed a Series E fundraising round of $555 million in 2021 that valued Mirakl at more than $3.5 billion.

“This latest debt financing is an additional milestone demonstrating Mirakl’s financial strength and greater financial maturity,” said Adrien Nussenbaum, co-founder and co-CEO of Mirakl. “Through the RCF, we will be able to carry out M&A transactions that will further strengthen Mirakl’s technological progress and the success of our customers’ marketplaces.”

This has been a difficult year for M&A (merger and acquisition) transactions Nussenbaum mentioned. March brought the news that M&A volumes worldwide had fallen by 48% year over year in the first quarter.

M&A activity slowed to its lowest level in more than 10 years in the first three months of 2023, a trend driven by rising interest rates, high inflation, geopolitical tensions, worries about a recession and the banking crisis.

And many deals that were underway were put on hold due to banking upheaval in the U.S. and Europe, companies faced broad uncertainty as they sought financing.

Since then, U.S. regulators have updated the standards around M&As, a move that critics say could make mergers harder to complete.

“As markets and commercial realities change, it is vital that we adapt our law enforcement tools to keep pace so that we can protect competition in a manner that reflects the intricacies of our modern economy,” Assistant Attorney General Jonathan Kanter said last month. “Simply put, competition today looks different than it did 50 — or even 15 — years ago.”

Headquartered in Boston, Mirakl’s eCommerce offering includes solutions in marketplace, dropship, supplier sourcing ecosystem, supplier catalog management and pay-out, with clients that include Macy’s, Kroger and Airbus.

The company has had a busy 2023 so far, teaming up in May with TrueCommerce to help guide digitization and automation between businesses.

As PYMNTS wrote at the time, integrating TrueCommerce’s global supply chain network with Mirakl’s SaaS eCommerce platform streamlines the connections between marketplace and dropship platforms and the suppliers that use them.

In April, Mirakl teamed with TreviPay to provide a centralized financing, invoicing and payment solution for marketplace businesses, combing TreviPay’s global B2B payments and invoicing network and Mirakl’s platform.