Espresso Capital has provided New York-based Vidrio Financial with a $5 million revolving debt facility. The company plans to use the capital to build its sales and marketing efforts and accelerate growth.
“In addition to the investments we continue to make to expand our platform’s functionality, we were looking for short-term working capital to make strategic investments in our go-to-market strategy,” says Vidrio President, Federico De Giorgis. “While we were offered other forms of capital, we decided venture debt was the best option given where we are with the business.”
Ultimately, the debt facility from Espresso will allow Vidrio to ramp up its sales and marketing efforts so that it can scale faster. The company plans to add headcount in these areas as well as make other investments to increase market awareness and expand lead generation activities.
“We appreciated Espresso’s revolving debt structure because it will allow us to draw down funds from our credit facility at our discretion and pay them back as we go,” says Vidrio Founder & CEO Mazen Jabban. “The team took a creative and thoughtful approach to meeting our needs, and we really appreciated that.”
Launched in 2011, Vidrio Financial is technology company providing institutional investors with the first technology-enabled service for today’s multi-asset-class portfolios.
