Barclays invests £2m in digital agency 77Agency to help it win blue-chip clients
Barclays has agreed a £2m trade loan to digital marketing firm 77Agency to help them land blue-chip contracts.
The loan will also help the 100-strong agency, which provides search, social, and mobile marketing services, reach its growth targets.
Barclays, which became the first bank to launch a sector-specific media arm more than two decades ago, has offered the loan to help the agency cover the funding gap between when it is paid by the client for services it has provided. This means it can take on new clients which have longer payment terms.
Nick Harper, relationship director, Barclays’ Technology, Media and Telecoms Team said: “A big part of 77’s success has been its ability to tailor services to emerging technologies and trends, such as Facebook and Google, when they were still relatively new.
"They had the foresight to implement this into their product base, which has kept them relevant in an ever-changing market and helped to increase their turnover substantially.”
77Agency has offices in London, Milan, Riga, Amsterdam and Madrid.