MMW learned today that Bank of China granted almost $100 million in credit to Mobvista, a global leading mobile marketing company.
It’s the largest extension of credit in history to a mobile marketing company in China.
“For an asset-light Internet company, the trust behind the strategic cooperation with Bank of China wasn’t easy to build,” said Mobvista’s founder and CEO Wei Duan.
As the largest mobile marketing platform in Asia, Mobvista started operation in 2013 and focuses on providing user acquisition and traffic monetization services to developers across the world.
In late 2015, Mobvista went public at National Equities Exchange and Quotations, becoming China’s first stock in the overseas mobile marketing arena.
“Mobile marketing is an emerging industry with great momentum,” reads a statement attributed to the Bank of China.