Boston Financial Announces Two New Clients
Published September 12, 2012
Categories: Industry News
Boston Financial announced two new clients. A line of credit for $750,000 was closed with a cell therapy company that was acquired by a small public company that had been utilizing its services. The company is still cash flow negative with a current accumulated deficit of over $170 million. Although still losing money, it has access to an untapped equity line. The lab gear is for a research laboratory, Boston said.
The second deal closed is with a web-based marketplace for used cars, but with a better mousetrap than is currently available. The company has raised $3 million in equity from a few high profile venture capitalists and the company founder is an auto and Internet industry veteran. The company currently has 15-plus months of cash and a successful beta test that yielded over 30,000 consumers joining the site. The line was for $100,000 of equipment for its move into new office space, Boston said.