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Wireless broadband provider The Cloud has received financing from venture debt provider Noble Venture Finance (NVF), including a loan facility of €6 million (£4.5 million). The news follows last week’s announcement of The Cloud’s acquisition of GlobalAirNet, a German provider of wi-fi services to hotels.

The money comes from NVF’s second fund, NVF II, which was launched in September and has £100 million to invest. Details of the deal were not disclosed, but the lender typically charges transaction fees and takes a small amount of equity in the borrowing company as a ‘kicker’.

Mark Taylor, head of NVF, says: ‘The venture finance market is enjoying steady growth in Europe and we expect to be arranging larger facilities in the near future.’

The Cloud was established in 2003 and its UK clients include the City of London, fast food chain McDonalds and mobile operator O2. Its venture capital investors are 3i, Accel Partners and Provider Venture Partners.

NVF typically provides debt of between £1 million and £10 million to venture-backed businesses in Europe. Finance is provided in the form of loans, leases or hire-purchase facilities.

The lender is part of Noble, a UK investment bank.

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