Bridge Bank Upsizes Digital Turbine Credit Line to $20MM
Costa Mesa, Calif. - June 27, 2019
Bridge Bank today announced it has upsized Digital Turbine’s credit line to $20 million. Digital Turbine, Inc., is a mobile advertising company that connects advertisers and agencies with new customers using the largest global telecom companies around the world, bypassing app stores and allowing their clients to place their mobile app directly in the hands of new users through Android devices. The increased credit will be used to support the company’s growth and working capital needs.
“We believe that our ability to expand the size of this credit line reflects the strength of our balance sheet, cash flows and prospects for long-term earnings growth,” said Barrett Garrison, chief financial officer of Digital Turbine. “The expanded and extended credit facility, combined with the company’s operating cash flows, provide ample resources to support continued growth and optimize our strategic flexibility. We are very appreciative of the broad support that we have received from our partners at Bridge Bank.”
“Digital Turbine’s rapid growth and positive operating trends reflect the strong value proposition of their mobile app delivery platform to advertisers, app developers, carriers, and OEMs,” said Victor Le, senior vice president of Bridge Bank’s Southern California Capital Finance banking group. “We’re happy to expand our relationship and look forward to helping further their success.”
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their growth ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance has ranked in the top 10 on the Forbes “Best Banks in America” list for five consecutive years, 2016-2020.