Miami, FL | October 15, 2021 — HubX announced today that it had received $10 million in working capital financing from City National Bank.
The credit line will be secured by inventory and receivables on hand and will help accelerate HubX's GMV growth, which has doubled in the past eighteen months.
HubX is the leading e-commerce marketplace for secondary transactions of laptops and other consumer electronics. Since inception in 2018, it has growth to $400M+ of GMV and is the fastest growing B2B marketplace in North America.
The credit line from City National Bank will replace the Company's existing source of working capital, which comes from its transaction volume and its co-owner.
This is the first institutional round of capital taken by HubX. Two Roads Advisors is sole financial advisor to HubX.
Go Back
Go Back