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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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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