This new facility includes $100 million from Silicon Valley Bank (SVB), and $26.6 million from Trinity Capital.
It is Petal’s first asset-backed facility with SVB and Trinity Capital. The firm says it complements its existing $300 million facility with global investment bank Jefferies.
“We are excited to expand our relationships with both SVB and Trinity through a truly innovative capital solution,” says Nate Huebscher, Petal’s vice-president of capital markets.
