ShopRunner, a San Mateo, CA-based membership-based online shopping service, received a a multi-year credit facility from Square 1 Bank, a division of Pacific Western Bank.
The amount of the deal was not disclosed.
The company intends to use the proceeds from the facility to expand its member and retail partner bases.
Founded in 2010 by Michael Rubin and led by Scott Thompson, CEO, and Scott Simmons, chief operating officer and chief financial officer, ShopRunner connects retailers and brands to the best online shoppers via exclusive member benefits and targeted, data-driven marketing.
The company currently has over 3.5M members and 150 retail sites in its network, including brands like Neiman Marcus, Saks Fifth Avenue, Ralph Lauren, Tory Burch, Kate Spade, American Eagle, Under Armour, Brooks Brothers, Eddie Bauer, Staples, Newegg, 1-800 Flowers, etc.
FinSMEs
17/08/2016