Espresso Capital, which provides venture debt solutions to companies in need of capital, has secured $200m in a credit facility from US financial institution KeyBank.
With the funds, Espresso hopes to expand its lending activities to reach high-growth technology and healthcare companies.
Founded in 2009, the company has funded over 300 companies across the US, Canada and the UK. Its financing helps businesses accelerate growth, extend runway and increase strategic flexibility with non-dilutive capital, it claims.
The firm works with high-growth technology companies that have a minimum of $5m in revenue.
Espresso COO and CFO Enio Lazzer said, “We’re excited to welcome KeyBank as a funding partner.
“Securing this facility is an important milestone that further expands our capacity to support borrowers with innovative venture debt solutions. The KeyBank facility complements Espresso’s existing facilities with BMO Bank of Montreal and Scotiabank.”
The firm has backed several FinTech companies, including a recent capital injection into Bento Technologies. Bento is an expense management platform that is designed to consolidate financial services for small and medium-sized businesses.
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