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Cart.com Secures $105 Million Term Loan Facility from BlackRock

Cart.com Secures $105 Million Term Loan Facility from BlackRock

Slice of Retail Team
July 23, 2024

Key Highlights:

Cart.com secures $105M term loan from BlackRock.
Supports expansion and technology enhancement.
Consolidates venture debt at competitive terms.
Aids in unifying digital and physical commerce infrastructure.

Source (Business Wire)

Notable Quotes:

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"BlackRock is pleased to support Cart.com as it advances its mission to unify digital and physical commerce infrastructure. This latest facility underscores our confidence in the company’s differentiated product offerings and financial strategy as it enters its next stage of growth."

Keon Reed, Director at BlackRock

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"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."

Omair Tariq, Founder and CEO at Cart.com

Our Take:

Cart.com's recent $105 million term loan facility from BlackRock marks a significant milestone in the company's rapid growth trajectory. This capital infusion will not only support their expansion into new markets but also enhance their innovative technology solutions, particularly the Constellation OMS offering. By consolidating their venture debt at competitive terms, Cart.com is strategically positioned to unify digital and physical commerce infrastructure, driving operational excellence and profitability. This partnership with BlackRock underscores the confidence in Cart.com's differentiated product offerings and financial strategy, paving the way for continued success in the commerce and logistics industry.