Mundi secures $100 Million debt facility from Silicon Valley Bank
NEW YORK - October 4th, 2021.- Mundi, a financial services platform for cross-border trade, announced today that it has raised a $100 million warehouse facility from Silicon Valley Bank, the bank of the world’s most innovative companies and their investors. This will enable the company to expand and support its high levels of growth.
“We are very excited to partner with Silicon Valley Bank in advancing our mission to empower SMEs to trade globally,” said Martin Pustilnick, Co-Founder and CEO of Mundi. “This year alone, we have received more than 3200 applications from new and existing exporters in Mexico. With this new debt facility, we are looking forward to serving even more companies”
Based in New York City with major operations in Mexico, Mundi has raised a total of $7.8 million in equity funding by FJ Labs and Base10 and now a $100 million warehouse facility. Established in Mexico, Mundi is the leading financial services platform for cross-border trade, empowering companies to trade globally by offering payment terms to their customers, receive payment immediately. and grow their business with more access to working capital without taking default risk
“Since the day I met the Mundi team I was impressed with their vision and relentless execution and they have blown away our expectations. I’m proud to support them and know that they are just getting started,” said Rexhi Dollaku, Partner at Base10.
From the beginning of the pandemic to date, Mundi has grown an average of 47% every month and has recently doubled its monthly operations in the last two months. This has allowed more Mexican exporters to grow their businesses without taking financial risks. According to Paulina Aguilar, Co-Founder and Mexico Director, this debt facility will be a key instrument to help Mundi reach more than 1,000 new SMEs in Mexico.
Mundi has quickly become the go-to financial services platform for cross-border trade in Mexico, giving SMEs access to services that were formerly available for big companies and allowing them to continue growing as global trade recovers.
“Mundi is helping to fuel exports in Mexico, making it easier for companies to do business globally from day one,” said Nick Christian, Head of Specialty Finance at Silicon Valley Bank. “With this warehouse facility, we are happy to partner with Mundi to support its growth and provide more exporters with the financing tools they require.”
SVB's specialty finance group provides revolving lines of credit and term loans to companies and funds active in the consumer and enterprise sectors. The specialty finance team has deep, proven expertise providing custom credit solutions such as warehouse facilities.
About Mundi:
Mundi is a financial services platform for cross-border trade, the company empowers SMEs to trade globally by providing a suite of financial and trade-related services that allows them to grow their business internationally. Learn more at mundi.io
About Silicon Valley Bank
For nearly 40 years, Silicon Valley Bank has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.