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Square 1 Bank, Bridge Bank Increase & Extend Revolver for Trupanion

December 22, 2016, 07:00 AM
Filed Under: Insurance

Trupanion, a leading provider of medical insurance for cats and dogs, today announced that it has successfully amended its revolving credit facility, including an increase in the maximum borrowing amount from $20 million to $30 million and an extension of the facility through December 2018. In addition, Bridge Bank, a division of Western Alliance Bank, joins existing lender Square 1 Bank, a division of Pacific Western Bank, in a newly created syndicate.

“I’m pleased with the additional borrowing capacity and flexibility that our newly upsized credit facility will provide us,” stated Tricia Plouf, CFO of Trupanion. “The strength of our financial position has allowed us to increase our access to relatively low cost, non-dilutive capital to fund our continued growth plans.”

Square 1 will agent the $30 million credit facility and Bridge Bank will join the syndicate as a new lender.  Adam Glick, Senior Vice President of Syndications and Technology Banking at Square 1, added, “We are proud to be able to expand our nearly decade long relationship with Trupanion and to continue to support the company’s growth trajectory with Bridge Bank.”

“Our relationship with Trupanion is emblematic of how we work with businesses. We create a trusted, collaborative environment that helps a business reach its next breakthrough idea with confidence,” said Jeff Brown, Vice President at Bridge Bank. “We are looking forward to working closely with Trupanion to help further its mission to give pet owners peace of mind.”

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