Horizon Technology Finance Corporation (NASDAQ: HRZN) a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries, announced today it has closed a $5 million venture loan facility to WebLinc Corporation.
WebLinc is a cloud-based provider of e-commerce solutions for fast growing online retailers. The company's Workarea Commerce Platform is the only digital commerce platform built on a modern tech stack uniting commerce, content and insights into one application. WebLinc is backed by Safeguard Scientifics, an investor of technology companies in the areas of healthcare, financial services and digital media. WebLinc will use the proceeds for general working capital purposes.
"WebLinc represents a solid addition to our investment portfolio," said Gerald A. Michaud, President of Horizon. "With its advanced technologies and strategic professional services expertise, WebLinc has developed an industry-leading e-commerce platform that is scalable to the shifting needs of companies with global, omnichannel operations. Our debt financing will allow WebLinc to further expand its platform and serve a wider range of businesses in the rapidly expanding digital commerce market."
Darren C. Hill, CEO and co-founder of WebLinc, stated, "What attracted us to Horizon was their successful history with innovative tech companies. The traction WebLinc continues to make comes at a time where until recently there was an unmet need in ecommerce for a modern set of tools and technology in one platform to improve the workflows of online retailers. We're happy to welcome Horizon as a new WebLinc partner, in addition to Safeguard Scientifics, who has supported our rapid growth."
About Horizon Technology Finance
Horizon Technology Finance Corporation is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Headquartered in Farmington, Connecticut, Horizon has regional offices in Pleasanton, California, Reston, Virginia and Boston, Massachusetts. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechfinance.com.
WebLinc helps great retailers sell more. WebLinc develops modern, digital commerce technologies for growing ecommerce-focused teams. The founder-led company is based in Philadelphia with satellite offices in Los Angeles, Vancouver, and Toronto. WebLinc's cloud products, Workarea and Orderbot, power commerce sites for dynamic, high-growth retailers including Sanrio, Urban Outfitters, Inc.'s brands Terrain and BHLDN, Lonely Planet, U.S. Polo Assn., Do it Best Corp., Woodcraft, Rachel Roy, and others. To learn more, visit www.weblinc.com.