Wintrust Receivables Finance closed a new $4 million accounts receivable line of credit for a logistics company based in the Southwest.
The company was founded more than two years ago by veterans of the freight technology industry, generating a modest amount of revenue while developing its proprietary technology platform. With the technology platform now ready to go to market, the firm recently received its initial round of venture capital funding and is embarking on a plan of aggressive growth. Prior to growing the business, the company’s management wanted to have the support of a lender that could scale its level of working capital financing support.
“We expect to see great things from this client in the years to come given the combination of the impressive management team, the technology platform and the VC support,” Jason LeuVoy, senior vice president at Wintrust Receivables Finance, said. “The WRF team has a long track record of financing earlier stage, high-growth firms, and we think this transaction will make another excellent addition to our portfolio of transportation and logistics clients.”
In addition to the new line of credit, Wintrust Receivables Finance is also providing treasury management products and services to the client.
