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Horizon Technology Finance Provides $5MM Venture Loan Facility to WebLinc

August 17, 2017, 08:00 AM
Filed Under: Retail

Horizon Technology Finance Corporation, a specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries, announced it has closed a $5 million venture loan facility to WebLinc Corporation.

WebLinc is a cloud-based provider of e-commerce solutions for fast growing online retailers. The company's Workarea Commerce Platform is the only digital commerce platform built on a modern tech stack uniting commerce, content and insights into one application. WebLinc is backed by Safeguard Scientifics, an investor of technology companies in the areas of healthcare, financial services and digital media. WebLinc will use the proceeds for general working capital purposes.

"WebLinc represents a solid addition to our investment portfolio," said Gerald A. Michaud, President of Horizon. "With its advanced technologies and strategic professional services expertise, WebLinc has developed an industry-leading e-commerce platform that is scalable to the shifting needs of companies with global, omnichannel operations. Our debt financing will allow WebLinc to further expand its platform and serve a wider range of businesses in the rapidly expanding digital commerce market."

Darren C. Hill, CEO and co-founder of WebLinc, stated, "What attracted us to Horizon was their successful history with innovative tech companies. The traction WebLinc continues to make comes at a time where until recently there was an unmet need in ecommerce for a modern set of tools and technology in one platform to improve the workflows of online retailers. We're happy to welcome Horizon as a new WebLinc partner, in addition to Safeguard Scientifics, who has supported our rapid growth."


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