The company is a small, rapidly growing fintech that builds and extends lines of credit to its customers so it can fund customer spend and scale product offerings. Its core product is a credit-extension platform that the team uses to ramp offerings rapidly while incorporating debt into the company’s capital stack. To avoid dilution the company prioritized non-dilutive capital and credit facilities over large equity rounds. In October 2021 it closed a $77 million funding package composed of a $75 million revolving credit facility and the remainder in equity; earlier it had secured an initial $3 million credit facility from a small lender. The company says the credit facility structure improved its economics and allowed it to keep pace with inbound demand. The team is small and kept employees informed throughout the raise, and leadership says they leaned on advisers, shareholders and investors during the process. Management plans to finalize an all‑stock acquisition later this year to enhance its technology and product roadmap.

Total raised

$77M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Feb 2022