WebLinc Corporation, a Philadelphia, PA-based provider of e-commerce solutions for online retailers, closed a $5m venture loan facility.
Horizon Technology Finance Corporation (NASDAQ: HRZN), a specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries, provided the financing.
The company will use the proceeds to further expand its platform and serve a wider range of businesses in the digital commerce market.
Led by Darren C. Hill, CEO and co-founder, WebLinc provides the Workarea Commerce Platform, a cloud-based digital commerce platform built on a tech stack uniting commerce, content and insights into one application, and Orderbot Operations Management, an operations management platform based around the life cycle of an order.
The company, backed by Safeguard Scientifics, serves commerce sites for retailers including Sanrio, Urban Outfitters, Inc.’s brands Terrain and BHLDN, Lonely Planet, U.S. Polo Assn., Do it Best Corp., Woodcraft, Rachel Roy, and others.
It also has satellite offices in Los Angeles, Vancouver, and Toronto.