Stratos Technologies secured leverage through a first-out participation structure with WebBank in an asset-based revolving credit facility to one of its financial technology portfolio clients. Stratos will leverage debt capital from WebBank to expand its credit lending solutions to certain fintech portfolio clients.
“We are pleased to be partnering with WebBank on this transaction and plan to seek additional avenues to work with the team at WebBank to facilitate the success of our portfolio companies,” Rennick Palley, founder and chief investment officer of Stratos Technologies, said.
“WebBank is very excited to expand its investment footprint in the fintech space through this initial leverage transaction in partnership with Stratos,” Jason Lloyd, president of WebBank, said. “We are committed to providing capital for the transformation of digital lending through fintech platforms, and our strategies closely align with Stratos’ beliefs that technology will ultimately transform every industry.”
Stratos Technologies is a venture capital firm with expertise in financing, operating and advising technology businesses.
