Silicon Valley Bank provides $16 million in debt facilities to Connectbase in order to fund growth and market expansion.

To fund growth and market expansion, Silicon Valley Bank, a branch of First Citizens Bank, provided a $16 million debt facility to the Industry Cloud for Connectivity, Connectbase.

The announcement follows a number of significant ones, including the company's first acquisition. The access quoting platform provider LastMileXchange, based in London, was acquired by Connectbase in May after receiving $22 million in Series C funding last year. With the addition of LastMileXchange, Connectbase has grown to become the largest global quoting API ecosystem, safely bringing together buyers and sellers on all six continents with more than 2.4 billion locations that have been profiled for The Connected World platform.

Silicon Valley Bank has helped Connectbase grow and succeed so far by building on a foundation of mutual trust and our long-standing relationship. According to Connectbase CFO Yossi Hazan, Silicon Valley Bank understands the company’s growth potential, allowing them to expand as they have over the past seven years. He further added that, in these times, which may be financially difficult for other businesses, Connectbase is honored to be trusted with this level of credit.

According to Chris Morrison, Managing Director at Silicon Valley Bank, the bank is thrilled to assist Connectbase as they carry out their plan and grow the company. The bank facility will help many of the users of the Connectbase platform in addition to supporting its continued growth. They look forward to assisting their team in achieving their objectives by offering financial solutions and guidance in the future.

With a singular focus on digitizing, automating, and modernizing the digital infrastructure market, Connectbase offers solutions to network service providers, managed service providers, data centers, mobile network operators, tower companies, master agencies, real estate management companies, and brokerage firms.