Grid Dynamics Holdings, a leader in enterprise-level digital engineering services and solutions, obtained a new revolving line of credit facility with JPMorgan Chase Bank. The credit facility is up to an amount of $30 million for a period of three years. Grid Dynamics expects to use the loan proceeds to support its growth and operational objectives.

"We are pleased to be working with JPMorgan Chase Bank and look forward to furthering our partnership as we continue to scale our operations. Today's closing of the credit facility not only represents vote of confidence from the financial community, but more importantly supports our focus on enhancing long-term shareholder value as we use the proceeds to fund the company's growth by investing in acquisitions," said Anil Doradla, CFO of Grid Dynamics. "Additionally, this facility provides financial flexibility and supports our strategy to diversify funding resources in supporting our vision of expanding our capabilities, delivery geographies, and industry verticals."