FCNCA - Carputty Secures $80M In New Funds to Accelerate Growth | Benzinga
Carputty, a leading fintech company revolutionizing auto financing and ownership, is thrilled to announce the successful closure of a $75 million warehouse/financing facility with Silicon Valley Bank (SVB) with an additional equity investment of $5M. This milestone SVB agreement, replacing the former $20 million facility, marks a significant leap forward in Carputty's expansion strategy and ability to meet burgeoning market demand.
ATLANTA, March 06, 2024 (GLOBE NEWSWIRE) -- Carputty ("Carputty" or the "Company"), a leading fintech company revolutionizing auto financing and ownership, is thrilled to announce the successful closure of a $75 million warehouse facility with Silicon Valley Bank (SVB), a division of First Citizens Bank. This significant investment is further bolstered by new equity contributions led by TTV Capital and supported by Fontinalis Partners, Kickstart Fund, Kinetic Ventures, and Grand Ventures. With the investment and warehouse facility combined, Carputty's newest financial backing exceeds $80 million. Other noteworthy key investors include Porsche Ventures and University Growth Fund, who, alongside the current participants have seen Carputty raise more than $100 million in total funding, marking a substantial milestone for the company.
Brian Foley, Market Manager at SVB, collaborated closely with Carputty to structure and launch this transformative warehouse ...