Loan to Support the Working Capital Needs of a Venture Backed E-Commerce Company
SAN JOSE, Calif., July 20, 2021 (GLOBE NEWSWIRE) — Tech Capital, LLC, the asset-based finance company and wholly owned subsidiary of Tech CU, announced today that it is participating in a $30 million term loan originated and led by Multiplier Capital. This loan will serve the growth capital needs of one of Multiplier Capital’s portfolio companies – a venture-backed, growth stage, e-commerce company. Tech Capital’s participation will total $8 million.
“Multiplier Capital is a well-respected venture debt firm with an impressive track record. They also have a lending strategy that complements Tech Capital’s asset-based lending approach – making them an ideal partner,” said Joe Anzalone, Managing Director of Tech Capital, LLC. “We are excited for the opportunity to work with them.”
“Tech Capital has a reputation for excellence in the asset-based lending world,” said Ray Boone, General Partner and Co-Founder of Multiplier Capital. “We were impressed with their speed and ability to execute on this opportunity and look forward to collaborating again in the future. We see great synergies in partnering with Tech Capital with other portfolio companies we are supporting.”
Tech Capital provides asset-based loans and is known for its flexibility and creativity in setting up loan structures in collaboration with clients. It is a wholly owned subsidiary of Tech CU, a top-performing credit union.
About Tech Capital
Founded in 2015, Tech Capital, LLC is a nationwide finance company specializing in asset-based lending solutions for middle market sized companies and businesses. Tech Capital is a wholly owned subsidiary of Technology Credit Union. For more information on Tech Capital, visit: https://www.techcu.com/Business/Tech-Capital-LLC/.
About Multiplier Capital
Multiplier Capital is a $500M+ growth debt platform that provides secured loans to rapidly growing, professionally backed companies. The Multiplier partners have invested $1.5B+ in capital across 150+ transactions over the past 19 years as a team, applying our 90 years in combined experience to offer tailored debt solutions for our company partners. For more information, visit: https://www.multipliercapital.com/.
Public Relations, Tech CU