CardCash.com, a New Jersey-based online secondary gift card marketplace, secured $6m in debt financing.
Sterling National Bank, based in Montebello, NY, provided the financing.
The company intends to use the funds to finance inventory of gift cards.
Led by CEO Elliot Bohm and COO Marc Ackerman, CardCash.com offers an online exchange that allows consumers to convert unused and unwanted gift cards into cash.
In May, the company acquired its largest competitor Plastic Jungle (read here) and has since then entered into strategic partnerships with CVS Pharmacy, and United Airlines.
FinSMEs
16/12/2014