Trinity Capital Inc. Provides $25 Million in Growth Capital to Wisetack

Rhea-AI Summary

Trinity Capital (NASDAQ: TRIN) has announced a $25 million growth capital commitment to Wisetack, a pay-over-time platform specializing in home services financing. Wisetack's platform integrates with existing home service business software, enabling services like HVAC, plumbing, and pest control providers to offer flexible payment options to their customers.

The capital will be used to scale Wisetack's operations and fund growth initiatives. Ryan Thompson, Managing Director of Tech Lending at Trinity Capital, highlighted Wisetack's exceptional growth trajectory, customer experience, and strong market position as key factors in the investment decision. Wisetack's founder and CEO, Bobby Tzekin, emphasized that the partnership will help accelerate their growth and innovation in the home services market.

Positive

• Secured $25 million commitment for growth capital deployment
• Strategic expansion into the home services financing market
• Revenue-generating investment in a growing fintech platform

Negative

• None.

PHOENIX, Jan. 30, 2025 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity Capital"), a leading alternative asset manager, today announced the commitment of $25 million in growth capital to Wisetack, a leading pay-over-time platform for home services.

Wisetack provides consumer financing for home services such as HVAC, plumbing, and pest control, allowing customers to quickly and easily set up pay-over-time options. Wisetack is integrated into the software tools that home service businesses already use, making it easy for the businesses to start offering their customers these flexible options.

"Wisetack stood out for its exceptional growth trajectory, stellar customer experience, and strong position in a very large market. Their seamless integration process and easy-to-use software enable businesses around the country to offer their customers financing for essential services," said Ryan Thompson, Managing Director, Tech Lending at Trinity Capital. "We are excited to support Wisetack's growth as they continue to provide businesses and their customers with greater flexibility."

This growth capital will enable Wisetack to continue to scale operations and fund growth initiatives.

"We are excited to partner with Trinity Capital, as leaders in providing growth capital to fast-growing, category-defining companies," said Bobby Tzekin, founder and CEO of Wisetack. "Trinity's support will enable us to accelerate our growth and innovation in the massive home services market."    

About Trinity Capital Inc.

Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager, aiming to provide investors with stable and consistent returns through access to the private credit market. We source, vet, and invest in dynamic privately funded growth-oriented companies, giving our investors access to a strong and diversified portfolio. With distinct business verticals, Trinity Capital stands as a trusted partner for innovative companies seeking tailored growth capital solutions. Headquartered in Phoenix, Arizona, the firm has an international footprint, supported by a dedicated team of strategically located investment professionals. For more information, visit the company's website at trinitycapital.com and stay connected by following us on LinkedIn and X (formerly Twitter).

About Wisetack

Wisetack is the leading embedded platform for financing home services like plumbing and electrical, and has a rapidly growing presence in dental and elective medical care, as well as car repair. Wisetack partners with software companies to embed consumer financing options into their customer-facing applications through simple APIs. Wisetack merchants, many of whom are small businesses, rely on Wisetack to offer their customers affordable pay-over-time options at point of sale.

Founded in 2018 in San Francisco by an experienced team of leaders in the financial services industry, Wisetack is backed by investors Insight Partners, Greylock, Quadrille Capital, and Bain Capital Ventures. All payment options are subject to credit approval. Your terms may vary. Payment options through Wisetack are provided by its lending partners.

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SOURCE Trinity Capital Inc.

FAQ

What is the value of Trinity Capital's (TRIN) growth capital commitment to Wisetack?

Trinity Capital (TRIN) has committed $25 million in growth capital to Wisetack.

How will Wisetack use Trinity Capital's (TRIN) $25 million investment?

Wisetack will use the growth capital to scale operations and fund growth initiatives in their home services financing platform.

What sectors does Wisetack's financing platform serve through Trinity Capital's (TRIN) investment?

Wisetack's platform serves home services sectors including HVAC, plumbing, and pest control services.

When did Trinity Capital (TRIN) announce its investment in Wisetack?

Trinity Capital announced the $25 million growth capital commitment to Wisetack on January 30, 2025.