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Alternative Assets  + Real Estate  |  June 7, 2024
SVB, Trinity Provide $63M Warehouse Facility to Denim
Joe Palmisano
By: Joe Palmisano

SVB, Trinity Provide $63M Warehouse Facility to Denim

Silicon Valley Bank (SVB), a division of First Citizens Bank, along with lending partner Trinity Capital, provided a $63 million warehouse facility to Denim, a Jersey City, NJ-based technology factoring partner for freight brokers.

The financing is offered by SVB’s national fintech practice and allows Denim to continue supporting the cash flow and operational needs of growing freight brokers.

“The facility will enhance Denim’s ability to support the cash flow needs and accelerate the expansion of growing freight brokerages,” said Bharath Krishnamoorthy, co-founder and CEO of Denim. “We are very pleased to have SVB and Trinity as partners in our mission to support the freight industry.”

“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,” added Steven Lambe, managing director, warehouse lending at Trinity Capital. “We are excited to partner with their team to provide a flexible facility that will help support their mission and scale operations.”

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Trinity CapitalDenim

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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