September 04, 2008
Plenus Provides $3mm Credit Facility to Earnix
Plenus Venture Lending, Israel’s leading venture lending fund which provides credit facilities to high-tech companies, has granted a $3 million credit facility to Earnix, a leading provider of customer value optimization solutions for suppliers of insurance and banking services.
Earnix provides an integrated platform based on patented technology that enables banks and insurers to offer customers the optimal mix of products and prices to maximize customer lifetime value. The financing provided will be used for expanding sales and marketing activities to meet the growing demand for customer value optimization solutions.
“Providers of financial services are looking to move from traditional pricing methods based on risk and cost to sophisticated mechanisms that incorporate customer value analysis,” said Lee-Bath Nelson, General Partner at Plenus. “The Earnix solution helps providers offer better customer value and increase profitability.”
“Plenus provided Earnix with the right financial solution at the right time, enabling us to expand our market presence to meet the growing demand for customer value optimization solutions in the financial services sector,” said Earnix’s CEO David Schapiro. “We found Plenus to be a real partner, demonstrating not only high levels of professionalism and experience but also the willingness to work out a customized solution to meet our specific needs.”