Bridge Bank’s technology banking group has closed a $47 million term loan with Divergent Technologies to support the company’s continued growth. The new loan builds on Divergent’s existing relationship with Bridge Bank in conjunction with the company’s Series D equity financing round totaling $230 million in November 2023.
“Bridge Bank is proud to be Divergent’s banking partner as it continues to create new frontiers in vehicle design and production,” Mike Lederman, senior managing director in Bridge Bank’s technology banking group, said. “We believe in their vision and transformative approach to industrial manufacturing. This loan reflects our team’s ongoing commitment to banking relationships with forward-thinking companies like Divergent.”
“This loan adds significant flexibility for Divergent to continue to grow and innovate,” Kevin Czinger, CEO of Divergent, said. “We appreciate our strong relationship with Bridge Bank and its bankers, who actively demonstrate their understanding and confidence in our vision and capabilities. We are excited to accelerate our development and expand our operations as we continue to lead in our industry.”
