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INDIANAPOLIS, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Tradecycle Capital LLC (“Tradecycle”), and DZ Bank AG Deutsche Zentral-Genossenschatfsbank (“DZ Bank”) recently implemented a $40 million securitization facility to support Tradecycle’s continued growth. The 3-year facility, which may be further expanded, will be utilized to help facilitate Tradecycle’s unique, middle-market-focused Supply Chain Finance solutions.
“Tradecycle’s unique product offering services a variety of vertical markets. We look forward to using our latest securitization to further expand our market share,” said Justin Goheen, CEO of Tradecycle Capital. “Access to a solid source of capital also sets a strong precedent for future transactions. It is further proof of the quality of our unique, technology-enabled funding model and will allow Tradecycle to accelerate providing innovative financial solutions to middle-market clients.”
This year has marked a significant period of growth for Tradecycle, bringing successful securitizations, adding multiple clients, and expanding into various industries. Achieving these milestones points to strong demand for Tradecycle's unique product offering, proprietary technology and unparalleled customer experience -- all of which help clients increase their cash flow and grow their business.
Tradecycle provides Supply Chain Finance solutions that are targeted specifically at middle-market companies that typically are underfunded by traditional banks. Tradecycle primarily delivers payables funding structures that provide working capital to its clients to support growth, fund large projects and fuel expansion. The company utilizes proprietary technology to facilitate its funding process with clients and their respective suppliers. Tradecycle is industry agnostic and provides its solutions across the United States.
About DZ BANK
DZ BANK is the second largest bank in Germany and acts as a central bank for approximately 875 cooperative banks with over 10,000 branches in Germany. DZ BANK’s New York based Structured Finance Asset Securitization team offers specialty lender finance, structured asset and accounts receivable financing solutions for a wide variety of clients and asset types throughout North America.
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