Hamilton Locke acted for Silicon Valley-based venture debt and growth finance fund, Partners for Growth, on its senior secured funding of Splend, a fast-growing supplier of vehicles to the ride sharing economy with aspirations of being at the forefront of the electric car revolution.
The successful refinancing and restructure of Splend’s fleet financing by Partners for Growth was arranged by Neu Capital and is a significant milestone for Splend’s growth strategy, which follows a difficult period experienced by the business during the COVID-19 pandemic. The transaction represents the continuing strength and flexibility of venture debt and growth capital solutions in Australia and globally.
Commenting on the transaction, Hamilton Locke partner, Zina Edwards said: “We have been delighted to assist Partners for Growth on another successful transaction. There were many twists and turns in this one but at the end it was a fantastic outcome for everyone. We look forward to continuing to support the Partners for Growth team and wish Splend well in the next stage of its growth and its steady transformation to a green company.”
The team at Hamilton Locke was led by partner Zina Edwards and was assisted by senior associate Monty Loughlin and lawyer Calyb Soekoe.
