Houston-based e-commerce platform Cart.com announced it has nabbed $30 million from Trinity Capital to help the firm expand while boosting its balance sheet.
The investment is part of a larger $100 million debt refinancing that included Trinity and Silicon Valley Bank, a division of First Citizens Bank. The capital will strengthen Cart.com’s balance sheet as it continues to scale operations, according to a news release.
“With Trinity’s financing, Cart.com will double down on investments that support the growing demand for innovative logistics and commerce infrastructure solutions that help our customers unlock more efficient growth,” Cart.com founder and CEO Omair Tariq said in a statement.
Cart.com is a provider of online commerce and logistics solutions for merchants to sell and fulfill orders around the globe. The company currently has about 6,000 brands on its platform.
Officials for Phoenix-based business development company Trinity Capital (Nasdaq: TRIN) said they look forward to playing a role in Cart.com’s growth.
“We’re excited to add to our portfolio an innovative company that’s proving itself to be an indispensable commerce and logistics partner to a wide range of business-to-business, business-to-consumer and direct-to-consumer merchants,” Ryan Thompson, Trinity’s managing director of tech lending, said in a statement.
In June, Cart.com announced it had raised a $60 million Series C equity funding round to bolster its valuation to $1.2 billion. Since 2020, the company has secured over $430 million in capital.
Cart.com also recently moved its corporate headquarters back to Houston after three years in Austin, Texas, citing the Bayou City’s infrastructure, talent pool and mix of customers as reasons for returning.
| Funding details | Cart.com |
| Funding amount | $30 million |
| Lead investor | Trinity Capital |
| Goals for funding | Strengthen Cart.com’s balance sheet, help scale operations |
| Total funding | $430 million |
More articles by Noi Mahoney
Exports of Mexican-built cargo trucks fell in November
Freight Fraud Symposium
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Rock & Roll Hall of Fame • Cleveland, OH Register NowPast the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post Office • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now
Michael Nicholson
ANOTHER COMPANY DESTINED TO FAIL, INVESTING IN NON-PROFITABLE COMPANIES. HOW DOES REINVESTING GROW THEIR MARGIN. SCALE OPERATIONS…. SOUNDS LIKE CONVOY ALL OVER
TREAT TRUCKERS BETTER