Tech Unicorn Fivetran Closes on $125 Million in Debt
It’s gotten tougher for startups to borrow money after the collapse of SVB.
This article is for subscribers only.
Data startup Fivetran Inc. has taken a $125 million loan from Vista Credit Partners, highlighting a funding option for startups that’s become more desirable during the tech downturn, and also harder to get.
In the 11 years since creating Fivetran, most recently valued at $5.6 billion, co-founder and Chief Executive Officer George Fraser said he had never thought about taking on debt. That included two years ago when company raised $565 million, buying competitor HVR, and during its other funding rounds from firms including Andreessen Horowitz, though Fraser said banks had offered the startup loans.