The technology banking group of Bridge Bank closed on a $40 million credit facility for Sayari Labs, a Washington, D.C.-based leader in financial intelligence and supply chain risk solutions.
The credit facility includes venture debt and a monthly recurring revenue line of credit to help fund Sayari’s growth.
The deal highlights Bridge Bank’s capability of working with companies, such as Sayari, that have complex business models. The financing is the latest in a series of deals from Bridge Bank’s Washington, D.C. office, which serves clients throughout the Mid-Atlantic region.
“We see tremendous value in the innovation Sayari brings to financial intelligence with the important mission of helping to keep the world safer from financial crime,” Brian McCabe, senior director in Bridge Bank’s technology banking group, said.
Founded in 2015, Sayari works with financial institutions, Fortune Global 500 corporations and financial crime regulators and enforcement agencies in 35 countries. Its data intelligence platform powers the fight against global financial crime, increases corporate transparency in high-risk places and supports critical national security missions.
The company’s proprietary pipelines collect, extract, enrich, match and analyze high-value information from more than 150 countries, enabling enterprises to have a complete picture of their customers and competitors. Its clients include Coca-Cola, Facebook, State Street and Santander.
“This financing through Bridge Bank will provide liquidity as Sayari expands our reach to businesses and governments around the world,” Eric Rhoades, CFO at Sayari. “We appreciate Bridge Bank’s role in helping to power our growth toward our goal of helping our clients integrate data and advanced analytics into their everyday operations.”
