Bridge Bank Helps Soli Organic Grow and Scale
There were bigger names on our list, but Bridge Bank’s ability to scale with us and provide the personal touch made the difference . . . because they can come to us, be responsive and nimble.
Soli Organic is on a mission to make organic produce accessible and affordable to all people. While U.S. consumers are spending more on organic food than ever, the stubborn truth is that it remains out of reach for many due to higher prices.
A leading grower and marketer of fresh organic culinary herbs, as well as leafy greens, Virginia-based Soli Organic is working hard – and smart – to change that.
The natural benefits of Soli Organic’s unique, soil-based indoor growing system, combined with highly targeted use of technology, enable Soli to offer produce with all the sustainability benefits of indoor-grown produce at a much lower price point.
Today, Soli operates nine indoor farms and is on a fast track to build many facilities in strategic locations around the country. The company, which currently delivers 100% USDA certified organic produce to more than 20,000 retail stores nationwide, is led by veterans of some of the world’s top brands, including Starbucks and Disney. Chief Financial Officer Mike Buckley joined Soli after senior roles at Nike, Postmates and Intel.
Along with a series of successful capital raises, Buckley and his C-suite colleagues knew that selecting the right bank was a critical step in Soli’s plans to establish a national brand. They chose Bridge Bank and their well-regarded Technology Banking Group, working with a team of bankers based in Washington, D.C.
“We were running a process to find a banking partner to take us into the future as we strategically scale. Bridge Bank stood out in a few different ways. First, speed. They were very quick to learn all about our company and our technology. Next, competitive pricing. On top of that, Bridge Bank was just great to work with and the service was truly personal,” said Buckley.
“There were bigger names on our list, but Bridge Bank’s ability to scale with us and provide the personal touch made the difference . . . Bridge Bank’s physical presence in Washington, D.C. is great because they can come to us, be responsive and nimble. The fact that they’re headquartered in California with multiple offices on the West Coast, and throughout the country, also supports us as we continue to build out our national footprint. Bridge Bank brings a geographic advantage.”
As to Soli Organic’s future, Buckley added: “We have the opportunity to create a lasting brand in the produce aisle. The reality is that to build a lasting brand you need consistency, scale and quality. We think Soli Organic has very, very good ingredients.”