Shopatron Snags $4M in Venture Debt
SAN LUIS OBISPO, CA, Multiplier Capital, a newly formed venture debt fund, today announced that it has closed a $4MM facility for Shopatron.
Multiplier Capital, a newly formed venture debt fund, today announced that it has closed a $4MM facility for Shopatron, which marks the fund's first transaction. Shopatron, a leading retail-integrated eCommerce platform for branded manufacturers, distributors, and multi-channel retailers, plans to use the proceeds to continue the momentum of its domestic market expansion.
The Shopatron platform enables branded manufacturers and multi-channel retailers to accept orders online and fulfill them through a distributed network of retail locations. By utilizing local order fulfillment, the eCommerce solution is uniquely able to increase both online and brick- and-mortar sales concurrently. This also results in faster delivery for the consumer, while preserving the brand-customer relationship. Shopatron sells across more than 40 industries (apparel, automotive, consumer electronics, sporting goods, home improvement, musical instruments, pet products, toys, education products, and others) and has more than 1,000 customers.
"We are excited to be working with Multiplier Capital," said Ed Stevens, founder and CEO of Shopatron. "This financing will help us expedite our acquisition of new customer and partner groups such as multi-channel retailers, solution partners, and online marketplaces. We welcome the support of a financial partner that understands our needs and shares our vision of success."
Ray Boone, a general partner of Multiplier Capital commented: "We are impressed by the achievements of the Shopatron team-strong market penetration; high customer satisfaction; and a suite of customizable, effective solutions." Kevin Sheehan, managing general partner of Multiplier Capital added: "This is a great company, and representative of the type of organization the Multiplier Capital fund seeks to support across the U.S. with our national platform."
About Multiplier Capital
Multiplier Capital is a newly formed debt fund actively seeking opportunities to make secured loan investments in professionally backed growth companies. Working together as a team, the Multiplier partners previously committed almost $1B in debt capital in more than 100 transactions over the past 10 years. It has offices in the Washington DC metro area, Los Angeles and New York from which it invests nationwide across all growth industries, with a focus on the U.S. tech centers. It has substantial capital under management, and seeks to apply its 77 years in combined transactions experience to tailor value-added debt solutions for its company partners. To learn more about Multiplier Capital, visit multipliercapital.com.
Shopatron is the only eCommerce solution in the world that can increase a brand's sales online, while also increasing sales through brick-and-mortar retail stores. Shopatron's retail-integrated eCommerce with distributed order management provides an innovative and flexible approach to online sales that matches the unique needs of branded manufacturers and multi-channel retailers. Founded in 2001, Shopatron works with more than 1,000 brands and 20,000 retail partners across more than 40 industries. Clients include top brands such as Bosch, Suzuki, Mizuno, Ducati, JL Audio, K2, Roland, Modell's and Sport Chalet. The company has headquarters in San Luis Obispo, California. To learn more about Shopatron, visit ecommerce.shopatron.com.
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