Capital One Leads $60MM Facility for DTT
DTT announced that it increased its credit facility to $60 million, through a round of funding led by Capital One. Capital One Bank served as lead bank and agent in the transaction, and brought in CapitalSource to complete the funding.
The increased funding will be used to sustain the company’s rapid growth over the last few years.
Sam Naficy, president/CEO of DTT stated, “As we venture into the specialty retail space, targeting convenient stores and small box retail establishments now in addition to restaurants, I expect adoption of our system to continue to climb sharply. I’m excited to close out the year with a very strong fourth quarter. I am thankful to Capital One Bank for their continued support. They have served as our anchor in this transaction, and were able to bring in CapitalSource as part of the debt structure. These additional resources will help us to continue on our path to further growth.”
“We are pleased to support DTT as they bring their digital video surveillance solutions to new markets,” said John Robuck, senior director, Security Finance, Capital One Bank. “This credit facility is a milestone for DTT, and we welcome the opportunity to partner with this industry leader as we continue to expand our commercial and specialty lending business nationwide.”
“DTT has built an incredible platform and CapitalSource is pleased to support Sam and the company as they continue to expand the markets they serve,” added Will Schmidt, managing director of Security Lending Group at CapitalSource.
DTT offers digital surveillance and loss prevention solutions for hospitality and retail.