InvestingEspresso Capital Provides a $5 Million Credit Facility to New York-based Vidrio Financial

FTB News Desk FTB News DeskSeptember 28, 20193 min

NEW YORK, Sept. 26, 2019 /PRNewswire/ — Espresso Capital announced today that it has provided New York-based Vidrio Financial, an award-winning financial technology platform for allocators to external managers, with a $5 million revolving debt facility. The company plans to use the capital to build its sales and marketing efforts and accelerate growth.

“In addition to the investments we continue to make to expand our platform’s functionality, we were looking for short-term working capital to make strategic investments in our go-to-market strategy,” says Vidrio President, Federico De Giorgis. “While we were offered other forms of capital, we decided venture debt was the best option given where we are with the business.”

Ultimately, the debt facility from Espresso will allow Vidrio to ramp up its sales and marketing efforts so that it can scale faster. The company plans to add headcount in these areas as well as make other investments to increase market awareness and expand lead generation activities.

While Vidrio could have chosen a number of venture debt providers, Espresso stood out for its flexibility. “We appreciated Espresso’s revolving debt structure because it will allow us to draw down funds from our credit facility at our discretion and pay them back as we go,” says Vidrio Founder & CEO Mazen Jabban. “The team took a creative and thoughtful approach to meeting our needs, and we really appreciated that.”

Building on recent client successes, Vidrio is on an aggressive path of growth and making significant investments in both its product and client acquisition initiatives. As part of its new go-to-market strategy, Vidrio recently relaunched its offering, including revamped positioning, solutions packaging, website, plus inbound and outbound marketing all to better convey Vidrio’s unique value proposition. “It’s a great company with an excellent product, admirable international customer base, and a strong leadership team,” says Mark Gilbert, Espresso’s Director, Loan Origination. “We’re confident that with this investment, Vidrio will supercharge its growth and increase profitability.”

FTB News Desk

FTB News Desk

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