Shopatron closes $4M financing
San Luis Obispo-based e-commerce firm Shopatron has closed a $4 million credit facility with Multiplier Capital, a venture debt fund.
Founded in 2001, Shopatron makes an e-commerce system that lets branded manufacturers sell products directly from their websites and fulfill the order through a dealer near the customer via delivery or in-store pickup. While large retailers such as Walmart have offered such options, they typically haven’t been available to small or specialized retailers.
The financing round was led by Multiplier Capital, a debt fund that finances venture-backed companies. The exact terms of the credit facility weren’t disclosed. “This financing will help us expedite our acquisition of new customer and partner groups such as multi-channel retailers, solution partners and online marketplaces,” Shopatron CEO Ed Stevens said in a news release.
Shopatron’s last large financing round was a $6 million Series B equity round led by Kern Whelan Capital and joined by Rivenrock Capital in 2007.