Cart.com Secures $105 Million in Debt Refinancing From BlackRock
Commerce and Logistics Unicorn Further Strengthens Balance Sheet as It Continues to Scale
Cart.com, a leading provider of unified commerce and logistics solutions that enable merchants to sell and fulfill wherever their customers are, announced it has secured a $105 million term loan facility provided by funds and accounts managed by BlackRock (“BlackRock”). The latest facility, among other things, consolidates Cart.com’s venture debt at competitive terms as the Company continues its rapid growth trajectory.
Read More: SalesTechStar Interview with Shaun Shirazian, Chief Product Officer at Pipedrive
“Cart.com is one of the fastest growing providers of commerce and logistics solutions today and I’m excited to partner with BlackRock as we continue to aggressively invest to help our customers operate more efficiently”
“Cart.com is one of the fastest growing providers of commerce and logistics solutions today and I’m excited to partner with BlackRock as we continue to aggressively invest to help our customers operate more efficiently,” said Cart.com Founder and CEO Omair Tariq. “This latest facility allows us to further expand into new markets while enhancing our innovative technology solutions, particularly our Constellation OMS offering. It also underscores our teams’ relentless work in driving operational excellence and profitability as we continue to partner with larger and larger customers across industries.”
Read More: What is Process Automation? How does it Impact End Results?
Cart.com provides the physical and digital infrastructure that unifies operations across channels and makes it easy for multichannel merchants to win in a channel-rich world. The Company offers a complete suite of tech-enabled logistics capabilities, enterprise-grade channel and order management software and expert services to simplify commerce for middle-market and enterprise companies and public sector agencies. Cart.com supports over 6,000 customers and 75 million orders per year and operates 14 omnichannel fulfillment centers nationwide. This capital follows the closing of a $25 million Series C extension round which brings the Company’s Series C total to $85 million at a $1.2 billion valuation.
“BlackRock is pleased to support Cart.com as it advances its mission to unify digital and physical commerce infrastructure,” said Keon Reed, Director at BlackRock. “This latest facility underscores our confidence in the company’s differentiated product offerings and financial strategy as it enters its next stage of growth.”
