Our team has build a business without venture capital in a space where it’s commonly sought after.
Instead we did find a strategic partner in the industry who invested earlier on but then later we established a venture banking relationship and credit facility.
I had almost no idea the options that existed so wanted to post some ideas here for anyone reading.
Venture Capital is one source of funding. So is Growth Equity or even private equity —- but different from “venture”. It sounds like you’re past the “venture” stage anyway.
We’re paying about ~9% interest on a multi-million credit facility now from a bank (several other banks will do this type of lending - not just SVB I also learned along the way recently). There is also minimal warrant coverage provided of 1-1.5% equity which we are happy with.
Some names of banks who are lending - just a few names but wanted to share some ideas as alternatives to venture capital, especially if you have revenue:
* Texas Capital Bank
* Cambridge Trust
* East West Bank
* Bridge Bank
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