ATLANTA, May 31, 2018 (GLOBE NEWSWIRE) -- Cardlytics (NASDAQ:CDLX), a purchase intelligence platform that makes marketing more relevant and measurable, announced that it has entered into a loan and security agreement with Square 1 Bank, a division of Pacific Western Bank, a full service banking partner to entrepreneurs and their investors. The agreement entails a $30.0 million asset-based revolving line of credit and a $20.0 million term loan to refinance all outstanding indebtedness.
“Since going public earlier this year, we have continued great momentum, including reporting solid Q1 earnings and announcing our partnership with Chase,” said David Evans, Cardlytics Chief Financial Officer. “Having Square 1 as a financial services partner further strengthens our balance sheet, giving us a strong foundation to execute our business goals.”
For full details of the agreement, please see the 8-K filing, here.
Cardlytics (NASDAQ:CDLX) uses purchase intelligence to make marketing more relevant and measurable. We partner with more than 2,000 financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, Chicago and San Francisco. Learn more at www.cardlytics.com.
Source: Cardlytics, Inc.