LOS ANGELES–(BUSINESS WIRE)–24. August 2022–
Rivonia Road Capital LLC, a global alternative capital manager focused on credit for high-growth companies, today announced that it has provided Tandym, Inc. with $50 million in debt financing, along with an equity investment in Tandym’s latest fundraising.
Tandym, based in Chicago, IL, was founded by former Capital One executives to offer branded credit cards to online retailers with less than $1 billion in revenue. Historically, merchant cards have only been available to the largest retailers, primarily due to complex, time-consuming and expensive implementation requirements. Tandym streamlines merchant onboarding by leveraging its proprietary closed-loop system, significantly reducing the time and cost of implementation while minimizing ongoing processing fees for merchants.
“Rivonia Road is thrilled to support Tandym by providing the capital needed to scale the portfolio,” said Rivonia Road Capital’s co-founder and managing partner, Brad Smiedt. “Tandym is a transformational company, founded by an amazing team, serving a significant unmet need. It operates at the intersection of two credit segments that Rivonia knows well, SME and consumer. Tandym uniquely offers a ‘win-win-win’ proposition, to benefit to the consumer, the seller and the issuer.”
Despite launching less than a year ago, Tandym has already raised two equity rounds in addition to Rivonia’s credit facility. In that time, the company has experienced rapid growth across its team, technology platform and customer pipeline. Demand for Tandym’s solution is robust, and the company has already engaged several trade customers.
“Tandym is poised for exponential growth because of our compelling value proposition,” said Tandym co-founder and CEO Jennifer Glaspie. “Brad and his team at Rivonia Road brought a truly differentiated perspective to the table, having been both investors and company founders themselves. Rivonia’s insight and flexibility throughout the process was instrumental in arriving at a solution that will allow Tandym to quickly leverage the enormous opportunity before us.”
About Rivonia Road Capital:Rivonia Road Capital is a global alternative capital manager that offers a unique combination of deep institutional investment experience with significant operational expertise in the alternative finance market to provide tailored capital solutions to emerging financial technology and related companies. Founded in 2017 and headquartered in Los Angeles, the firm has an active debt and equity investment portfolio in the consumer, commercial and real estate lending markets. For more information, go to www.rivoniaroad.com.
About Tandym:Tandym is a financial technology company that is transforming the private label credit card industry. As the first and only company to enable e-commerce businesses to quickly and easily offer their own, next-generation, private label credit cards, Tandym offers a comprehensive solution that drives business results for merchants and the consumers they serve. The platform’s modern API allows for seamless merchant integration while delivering an innovative, digital first customer experience.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220824005083/en/
CONTACT: Rivonia Road Capital LLC
Pratik Patel
(760) 267-4898
[email protected], Inc.
Lauren Leibowitz
(631) 942-3559
KEYWORDS: CALIFORNIA USA NORTH AMERICA
INDUSTRY KEYWORDS: PROFESSIONAL SERVICES TECHNOLOGY OTHER CONSTRUCTION AND REAL ESTATE OTHER TECHNOLOGY FINANCE CONSTRUCTION AND REAL ESTATE FINTECH
SOURCE: Rivonia Road Capital LLC
Copyright Business Wire 2022.
PUB: 24/08/2022 10:00 AM/DISC: 24/08/2022 10:02 AM
