Dealstruck, Inc., a Carlsbad, CA-based online direct lender, secured a new $50m credit facility and $8.3m in equity funding.
Brevet Capital Management provided the facility while Trinity Ventures made the equity investment.
The company intends to use the funds to provide growth capital to more small businesses nationwide complementing other existing facilities bringing its total lending capacity to more than $100m.
Led by Ethan Senturia, co-founder and CEO, Dealstruck aims to fill a gap in the market by providing small- and medium-sized through all stages of a lifecycle with term loans, asset-based lines of credit, and inventory lines of credit.
Launched in October 2013, it has loaned more than $50m into 43 states.