The line of credit was secured by Israeli venture lending fund Plenus of the Dovrat Group.
Plenus Venture Lending has secured a credit facility for $2 million to start-up XMPie, a provider of dynamic publishing software. XMPie is also backed by Jerusalem Venture Partners (JVP).
XMPie software enables a collaborative production workflow, and streamlines document ordering and customization with web-to-print applications. XMPie is headquartered in New York with operations in the US, Europe and Israel.
Plenus managing partner Ruthi Simha said, "We believe that XMPie has a state of the art technology, and that the $2 million credit facility will enable them to continue expanding into new geographies”.
Plenus is part of the Dovrat Group and is managed by Simha and Moti Weiss. Plenus provides late stage Israeli high-tech companies with credit lines and loans of between $1-10 million. Plenus manages capital today of more than $80 million and the fund is backed by major Israeli financial institutions and US-based investors. The company has provided financing facilities to over 20 companies including; Wintegra, EZChip, PowerDsine, Attunity and E4X.
Published by Globes [online], Israel business news - www.globes.co.il - on Monday, June 20, 2005