Tuesday, April 19, 2022

Trust Snags $30M In Equity, Debt

Los Angeles-based Trust, a fintech startup which helps emerging brands with extended payment terms and other services, said today that it has raised $30M, split between $25M in debt and $5M in equity. The $25M in debt funding came from Upper90, and the additional $5M in equity came from Sapphire Sport and Michael Vaughan (former COO of Venmo). Trust had previously raised equity from Lerer Hippeau, Lightspeed Venture Partners, Manta Ray, Sapphire Sport, Upfront Ventures, and Upper90. Trust is led by technology veteran James Borow. According to Trust, its core team previously worked on Snap's ad platform team; the company says it has now raised $14M in equity in total.