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Bridge Bank Provides $6MM Venture Debt Term Loan to Mixlab

December 06, 2021, 07:50 AM
Filed Under: Consumer Products
Related: Bridge Bank

Bridge Bank announced that its Boston-based Technology Banking Group has issued a venture debt term loan of $6 million to Mixlab, the modern pet pharmacy that partners with veterinarians to deliver the highest level of care at home.

Mixlab will use the funding to further its revenue growth by enhancing its technology offering, scaling sales and marketing efforts and expanding to provide same-day delivery across new geographies.

"Supporting the team at Mixlab as they work to extend their reach and achieve their growth goals is extremely rewarding," said Darren Gastrock, director in Bridge Bank's Boston-based Technology Banking Group.

"We are geared to helping innovative clients across the country, like Mixlab, meet their ambitions," added Roger Klarmann, senior director in Bridge Bank's Technology Banking Group.

Bridge Bank earned the capital financing relationship through a competitive bid process led by debt financing adviser Cafferty & Company, which served as an independent adviser to Mixlab on the transaction.

Mixlab's platform manages the home delivery of pet medications, which reduces a clinic's on-site pharmacy inventory and streamlines the medication workflow for veterinarians. The company also operates its own compounding pharmacies where it creates custom, on-demand medications in personalized dosage, form and flavor profiles in partnership with veterinarians.

"It's great to have a banking partner like Bridge Bank that understands how much the right financing can help a fast-growing company," said Fred Dijols, chief executive officer and co-founder of Mixlab. "These funds will help Mixlab expand and deepen our reach to veterinarians and pet parents across the country."

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 focused on bringing new technologies to market.

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