Bridge Bank today announced its Technology Banking Group has closed on a $40 million credit facility for Sayari Labs Inc., a Washington, D.C.-based leader in financial intelligence and supply chain risk solutions.
The credit facility includes venture debt and a monthly recurring revenue (MRR) line of credit to help fund Sayari’s growth.
The deal highlights Bridge Bank’s capability of working with companies, such as Sayari, that have complex business models. The financing is the latest in a series of deals from Bridge Bank’s Washington, D.C. office, which serves clients throughout the Mid-Atlantic region.
“We see tremendous value in the innovation Sayari brings to financial intelligence with the important mission of helping to keep the world safer from financial crime,” said Brian McCabe, senior director in Bridge Bank’s Washington, D.C.-based Technology Banking Group.
Founded in 2015, Sayari works with financial institutions, Fortune Global 500 corporations and financial crime regulators and enforcement agencies in 35 countries. Its data intelligence platform powers the fight against global financial crime, increases corporate transparency in high-risk places and supports critical national security missions.
The company’s proprietary pipelines collect, extract, enrich, match and analyze high-value information from more than 150 countries, enabling enterprises to have a complete picture of their customers and competitors. Its clients include Coca-Cola, Facebook, State Street and Santander.
“This financing through Bridge Bank will provide liquidity as Sayari expands our reach to businesses and governments around the world,” said Eric Rhoades, chief financial officer at Sayari. “We appreciate Bridge Bank’s role in helping to power our growth toward our goal of helping our clients integrate data and advanced analytics into their everyday operations.”
Bridge Bank’s Technology Banking Group provides financing solutions to companies in a variety of technology sectors at any stage in the growth cycle. From inception through IPO, the Technology Banking Group is a leading financial resource to companies nationwide that are bringing new technologies to market.
About Sayari Labs
Founded in 2015, Sayari is trusted by top financial institutions, Fortune Global 500 corporations, and financial crime regulators and enforcement agencies, across 35 countries. Sayari’s data intelligence platform powers the fight against global financial crime, increases corporate transparency in high-risk places, and supports critical national security mission sets.
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small to mid-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions, including startup banking, capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country, along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, with more than $50 billion in assets. Western Alliance is again #1 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2020 and ranks high on the Forbes “Best Banks in America” list year after year. For more information, visit Bridge Bank online.
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Contacts
Media Contact:
Robyn Young
ryoung@westernalliancebank.com
