CINCINNATI, SEATTLE, SAN FRANCISCO, April 17, 2019 – SaaS Capital, the leading provider of Committed Credit Facilities to software-as-a-service (SaaS) companies, today announced that it has provided a $2.5 million line of credit to Direct Commerce.
"Our relationship with SaaS Capital will help us accelerate the growth path we have been on in a flexible, sustainable way. Direct Commerce customers have demands for high quality, high availability solutions across the globe. Our relationship with SaaS Capital will help us to meet that demand," said Bruce Hanavan, CEO of the P2P service provider Direct Commerce.
Direct Commerce provides procure to pay solutions to the world’s largest corporations. Its SaaS-based software tools are delivered through a secure, web-based portal that is deployed and available across the EU, Latin America, and Asia in multiple languages and currencies. Its solutions are VAT compliant and provide the platform for its Fortune 1000 customers to cost effectively deploy and manage a standardized, compliant global supplier network across all its business units. Direct Commerce Fortune 1000 clients save millions while achieving an automated, paper-free work environment.
"The Direct Commerce engineering team has built a complex, sophisticated and robust software solution that powers the A/P departments for some of the largest companies in the world," said Rob Belcher, Managing Director of SaaS Capital. "After more than a decade of building to this point, Direct Commerce is in a position today to leverage its massive transactional data and deep supplier network to significantly grow its feature offerings, value to customers, and ultimately, its revenue. We’re very excited they chose to partner with SaaS Capital for this phase of their growth.”
About Direct Commerce, Inc.
Direct Commerce is a cloud-based global technology platform empowering Global 1000 companies and their thousands of suppliers to manage their invoicing and payments with total visibility. The company's solutions help buyers save money, and help suppliers get paid faster. Direct Commerce's services include electronic invoicing, order management, high-volume EDI services, discount management, supply chain financing, dispute resolution, vendor management, and supplier onboarding. Visit www.directcommerce.com to learn more.
About SaaS Capital
SaaS Capital is the leading provider of long-term Committed Credit Facilities to SaaS companies. Focusing exclusively on the SaaS business model, SaaS Capital delivers faster decisions, more capital, and longer commitments. SaaS businesses have used SaaS Capital's Committed Credit Facilities, instead of equity, to finance growth and create hundreds of millions of dollars in enterprise value without sacrificing significant ownership or control. SaaS Capital has offices in Cincinnati and Seattle. Visit www.saas-capital.com to learn more.
We were looking for a modest amount of capital to invest in additional product development and acceleration of customer acquisition, and the SaaS Capital line-of-credit provides the right amount of capital in a non-dilutive form.
CEO, Certica Solutions