The future is looking bright, as BriteCo raises funds and works with Silicon Valley Bank
With the equity and lending facility in place, BriteCo is able to grow the company and deliver innovative technology to service the insurance needs of jewelers, consumers, and agents across the nation.
Challenge
BriteCo's roots come from its founder's history in the diamond business. As the 3rd generation jeweler was leveraging his expertise to create an insurtech startup, BriteCo was looking to work with a bank that could support the needs of their growing and innovative organization.
Outcome
When the company successfully raised a $9M Series A round in 2022, SVB was able to complement the financing by providing a venture debt facility to help extend runway and provide capital to maximize the company’s optionality.
Silicon Valley Bank has been a trusted partner to BriteCo since the beginning. The relationship began with SVB’s Startup Banking team – where the bank provided a card program, accounts, and liquidity products to help maximize BriteCo’s operations.