Following this announcement, Cart.com will continue to provide customers and clients with physical and digital infrastructure, aiming to unify operations across channels. At the same time, the company will optimise the manner in which several multichannel merchants and traders sell and develop their products, anywhere their users are.
The funding round represents a part of a larger USD 100 million debt refinancing, which is provided by SVB’s Technology Corporate Banking Division and Trinity Capital Inc.
More information on the funding round
Cart.com represents a provider of unified commerce and logistic solutions designed to give B2C and B2B companies the possibility to sell and expand their tools in multiple regions across the globe. The enterprise offers a complete and secure suite of digitally driven logistic capabilities, enterprise-grade channels, as well as order management software, and expert services, all developed in order to simplify the commerce experience for middle-market and enterprise firms.
Silicon Valley Bank’s Technology Corporate Banking Division works with multiple public and late-stage private firms across the region of the US, especially its technology sector. This process was developed in order to provide a full suite of lending and banking services to customers in the region, as well as the needed guidance for the acceleration of their development process. At the same time, the financial institution offers trusted partners the possibility to optimise the manner in which clients quickly and successfully scale in an ever-evolving market.
This funding round follows a series of investments that Cart.com announced in 2023.
Earlier in December 2023, US-based Trinity Capital, a financial solutions company, announced its commitment to provide USD 30 million in growth capital to Cart.com. The company was expected to leverage the funds in order to develop as an important commerce and logistics partner to a wider range of merchants. In addition, Cart.com was set to double down on the investment that supported the growing demand for optimised logistics and commerce infrastructure tools, which focused on improving how clients unlocked a more efficient and safe growth process.
The Series C funding round of Cart.com was announced in June 2023, as the company raised USD 60 million, representing a pre-money valuation of USD 1.2 billion sum. Included in the investment were B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures, Legacy Knight, as well as other financial investors. According to the press release published at the time, the Series C funding round featured no structure or liquidity preferences.