Trust, a Los Angeles, CA-based growth network for emerging brands, raised USD30m in debt and equity funding.
- $25m in debt from Upper90, and
- $5m in equity from existing and new investors, including Sapphire Sport and Michael Vaughan (Venmo’s former COO).
The company intends to use the funds to expand operations and its business reach.
Led by CEO James Borow, Trust is a growth network for emerging brands, helping them grow smarter and faster, together. Brands that join the Trust network can band together to get benchmarked KPIs, trusted insights, and extended payment terms for their growth investments – all free.
Since August, brands using the network have shared over 650,000 anonymized transactions with each other, while more than $500 million in digital marketing spend has been indexed. Buying power across the Trust network currently exceeds $100 million.
Trust also announced today that Matt Trandall, who spent the last six years building Snap’s partnership organization, is joining Trust as Senior Vice President of Partnerships and Community.