Bibby Financial Services (BFS) announced a $1 million factoring facility delivered to Greenline, an emerging market retail service provider with offices in Las Vegas, Nevada and Stockton, California. Referred by brand partners who are also former BFS clients, Greenline selected BFS as its lender to facilitate the growth of its current brand partners, strengthen its strategic retail connections and broaden its e-commerce networks. The support from BFS enables Greenline to acquire new brands for worldwide development and to drive its financial growth at an accelerated pace.
Matt Cereno and Mike Smart launched the business in 2002 with a vision of developing a company that provided all the necessary tools, techniques, and inroads to give their partners a clear route to successfully market their innovative products. In 2017, the entrepreneurs merged all go to market services into one avenue, Greenline, to lead clients to the best strategies through sales, consultative services, distribution, and logistics. With the funding from BFS, Greenline is better positioned to support its clients’ production and distribution of innovative products through the pivotal holiday season. “We are very excited to partner with Bibby Financial Services, especially going into the busiest season of the year for our retail and omni-channel tech space,” stated Cereno, Greenline’s President. “Our industry is constantly launching new technological advancements, and with this support our brand partners will be able to keep up effortlessly.”
“With its curated group of brand partners and the passion Greenline brings to helping their clients launch today’s most innovative products and reach their marketplace potential, we are delighted to have been selected as the funding partner that will propel them through their next stage of growth,” said Ian Watson, CEO of Bibby Financial Services North America.
According to Nielsen’s Global New Product Innovation Survey, 63% of consumers state that they like when manufacturers offer new products, and technology is the fastest growing retail sector. With much of its own client base in the tech industry, BFS offers programs designed to give businesses like Greenline flexible funding to move forward and be adaptable in the changing retail market.