B2S Holdings, Inc., the pioneer and global leader of innovative SaaS-based technology solutions for the loyalty and rewards industry, announced today that it has entered into a $37.5 million line of credit agreement with Silicon Valley Bank, the bank of the world's most innovative companies and their investors. The credit facility, along with their recent $35 million equity round with Updata Partners, provides Bridge2 Solutions with additional working capital and enhanced financial flexibility.
Bridge2 Solutions CFO Doug Hadaway commented, "SVB has been an exceptional partner to Bridge2 Solutions. Their creative approach in providing the company an innovative facility for our unique working capital needs is proof of this." Hadaway also remarked, "SVB has been unwavering in its support of the company throughout the myriad of challenges presented by our substantial growth. This financing is integral to our continued pursuit of the many opportunities ahead of us."
"We're pleased to expand our partnership with Bridge2 Solutions to help the company accelerate its already impressive growth rate and support their working capital needs," said Dale Kirkland, managing director for Silicon Valley Bank in Atlanta. "Our objective is to provide the Bridge2 Solutions team with the right financing, connections and global services to facilitate their continued success."
Founded in 2006, Bridge2 Solutions offers the first global software-as-a-service ("SaaS") redemption platform for the loyalty and rewards industry. Our unprecedented platform lets you use rewards points anywhere and redeem for travel, merchandise, gift cards, e-certs, digital products, event tickets and activities. Bridge2 Solutions drives engagement by delivering amazing customer experiences between our customers and their end-users. Bridge2 Solutions powers rewards platforms for four of the top ten North American financial institutions, two of the top three global financial technology companies, and the top global companies within the travel and hospitality and health and wellness industries.
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators.