Trupanion, a provider of cat and dog medical insurance, amended its revolving credit facility to increase the maximum borrowing amount from $20 million to $30 million.
Bridge Bank, a division of Western Alliance Bank, joined existing lender Square 1 Bank, a division of Pacific Western Bank, as a lender in the newly created syndicate. Square 1 agented the $30 million credit facility.
The amendment also extended the facility through December 2018.
“I’m pleased with the additional borrowing capacity and flexibility that our newly upsized credit facility will provide us,” stated Tricia Plouf, CFO of Trupanion. “The strength of our financial position has allowed us to increase our access to relatively low cost, non-dilutive capital to fund our continued growth plans.”
“We are proud to be able to expand our nearly decade long relationship with Trupanion and to continue to support the company’s growth trajectory with Bridge Bank,” Adam Glick, SVP of Syndications and Technology Banking at Square 1, said.
“Our relationship with Trupanion is emblematic of how we work with businesses. We create a trusted, collaborative environment that helps a business reach its next breakthrough idea with confidence,” said Jeff Brown, vice president at Bridge Bank.