Funded: $3MM SaaS Formula Based LOC for Technology Customer

SaaS customer that has developed a proprietary technology platform that connects global brands to single or multi-unit hoteliers and their guests in real time, required a formula based revolving line of credit to retire maturing convertible debt and provide additional growth capital to support increase in demand for their technology platform. The customer's request was to replace a convertible debt note with a new growth capital LOC without having to dilute the current capital table. United Capital was able to successfully place the debt need and enable the customer to retire the convertible note and have the additional liquidity through the LOC to support growth.

 

http://www.pr.com/press-release/726577