Square 1 Bank, a division of Pacific Western Bank, provided a credit facility to Outdoorsy, a pioneer in the recreational vehicles and travel experiences marketplace. Proceeds from the facility will be used to fuel the company’s continued growth.
Based in Austin, TX, Outdoorsy provides a global, on-demand platform connecting recreational vehicle owners and renters. Outdoorsy offers a fleet of RVs, trip accessories and benefits, including DMV verifications, live customer support, roadside assistance and insurance for owners, renters and third parties.
The company is backed by institutional investors, including Altos Ventures, Aviva Ventures, AutoTech Ventures, NFX and Tandem Capital.
“Working with Square 1 has been a breath of fresh air for Outdoorsy,” said Jeff Cavins, CEO of Outdoorsy. “We have had numerous banking relationships since our founding; however, once we met the team at Square 1, we felt that they brought a more elevated approach to their clients.”
“Outdoorsy is quickly emerging as a leading global marketplace for the RV and experiential travel industry,” added Steven DiPasquale, senior vice president in Square 1’s technology banking practice. “The company is driving the shift from ownership to a trusted renter relationship, taking people where other on-demand platforms have not. We are excited to work alongside the company’s passionate team and support Outdoorsy’s mission to provide access to the great outdoors.”