Silicon Valley Bank (SVB), along with lending partner Trinity Capital, announced that it has provided Denim, a technology-forward factoring partner for freight brokers, with a $63 million warehouse facility.
This financing (offered by SVB’s national fintech practice) enables Denim to continue supporting the cash flow and operational needs of growing freight brokers. This support is essential for helping brokerages and fleets maximize their finances and enhance efficiency through automation.
Companies have been recognizing the potential for AI to enhance efficiencies and productivity, expand revenue and reduce costs, and strategic benefits like growth and innovation. And organizations of every size and industry are racing to deploy larger-scale AI solutions and capabilities – which drives high demand for powerful and scalable infrastructure. However, generalized infrastructure from legacy cloud providers is not designed to handle the massive parallel processing power and memory that AI workloads require.
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“The facility will enhance Denim’s ability to support the cash flow needs and accelerate the expansion of growing freight brokerages. We are very pleased to have SVB and Trinity as partners in our mission to support the freight industry.”
- Bharath Krishnamoorthy, Co-Founder and CEO of Denim
“With their innovative payment platform, Denim is helping freight brokers simplify their back-office operations so they can focus on running their business. SVB is proud to continue our strong relationship with Denim and provide them with the financial solutions and advice they need to continue to strengthen and scale their business.”
- Brian Foley, Market Manager for SVB’s Warehouse and Fintech group
“The team at Denim has built an impressive and highly functional software suite that is advancing the digitization of the expansive freight and logistics market. We are excited to partner with their team to provide a flexible facility that will help support their mission and scale operations.”
- Steven Lambe, Managing Director, Warehouse Lending at Trinity Capital
