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Square 1 Bank Closes $50MM Refi for Cardlytics

June 04, 2018, 07:05 AM
Filed Under: Marketing

Cardlytics, a purchase intelligence platform that makes marketing more relevant and measurable, has entered into a loan and security agreement with Square 1 Bank, a division of Pacific Western Bank, a full service banking partner to entrepreneurs and their investors. The agreement entails a $30.0 million asset-based revolving line of credit and a $20.0 million term loan to refinance all outstanding indebtedness.

"Since going public earlier this year, we have continued great momentum, including reporting solid Q1 earnings and announcing our partnership with Chase," said David Evans, Cardlytics Chief Financial Officer. "Having Square 1 as a financial services partner further strengthens our balance sheet, giving us a strong foundation to execute our business goals."


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