Cart.com Secures $105 Million In Debt Refinancing From BlackRock

 


Cart.com, a prominent provider of integrated commerce and logistics solutions enabling merchants to sell and fulfill orders from any location, has recently announced the successful acquisition of a $105 million term loan facility from funds managed by BlackRock. This new facility, in addition to consolidating Cart.com's venture debt on favorable terms, will support the Company's ongoing expansion efforts as it continues to experience rapid growth. 


Founder and CEO of Cart.com, Omair Tariq, expressed his enthusiasm about the partnership with BlackRock, stating, "Cart.com is at the forefront of the commerce and logistics solutions industry, and I am thrilled to collaborate with BlackRock as we invest aggressively to enhance operational efficiency for our customers." The latest funding will enable Cart.com to further penetrate new markets, improve its innovative technology solutions, particularly the Constellation OMS offering, and reinforce the team's commitment to operational excellence and profitability while expanding its customer base across various sectors.


Cart.com's comprehensive suite of tech-enabled logistics services, advanced channel and order management software, and expert support cater to middle-market, enterprise companies, and public sector agencies, simplifying commerce operations in a multi-channel environment. With over 6,000 customers and processing 75 million orders annually through its 14 omnichannel fulfillment centers nationwide, Cart.com continues to empower merchants to succeed in a competitive market. This funding round follows a recent $25 million Series C extension, bringing the total Series C funding to $85 million and valuing the Company at $1.2 billion.


Keon Reed, Director at BlackRock, expressed the firm's confidence in Cart.com's unique product offerings and financial strategy, stating, "BlackRock is proud to support Cart.com in its mission to integrate digital and physical commerce infrastructure. This latest funding facility reflects our belief in the Company's innovative solutions and long-term growth potential."


More Information : https://www.techdogs.com/tech-news/business-wire/cartcom-secures-105-million-in-debt-refinancing-from-blackrock

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