FGI Structures Creative Credit Insurance Program for Ogury
“FGI was able to find a creative solution that satisfied our bank’s requirements so that we could secure financing in the US, a key growth market for the organization. FGI played an instrumental role in our US bank getting comfortable with lending against our full US receivables.”
Ogury, a global advertising technology company, is the creator of the first advertising engine driven by user choice, powering a new trusted mobile advertising ecosystem, founded on user consent and preferences towards data sharing and ad experience. Since launching in 2014 in London, Ogury has grown rapidly across 18 offices in Europe and continues to accelerate its product innovation and customer growth across the US and APAC regions. In order to achieve this growth in the US, Ogury sought financing through a major US Bank. As part of the Bank’s receivable purchase program, the Bank required Ogury to obtain a trade credit insurance policy.
Ogury’s customer base, consisting of large advertising agencies, included a large exposure to a single US-based advertising agency. In order to secure financing with the Bank, Ogury needed to obtain credit insurance that would cover all of its US receivables, including those of the single large customer. The Bank also asked for more control over a typical credit insurance policy, and language that went beyond the typical Loss Payee language. Ogury needed an insurance Broker who understood receivable financing in order to put together the right solution.
FGI leveraged its financing expertise and strong relationships with the credit insurance market to tailor the right solution for both Ogury and the Bank. FGI worked closely with one of the largest insurance carriers, to structure a creative endorsement that was used for the first time in the US. Not only did this accommodate the Bank’s requirements, but it also allowed Ogury to secure the US financing it needed.