Square 1 Bank Announces Credit Facility to Autolist, Inc.
17 Februar 2016 - 3:00PM
Square 1 Bank, a division of Pacific Western Bank, today announced
that it has provided a $2 million credit facility to existing
client, Autolist, Inc., an automotive sales search engine. Proceeds
from the facility will be used to fuel the company’s continued
growth.
Founded in 2011 by the team that created Apartment List,
Autolist allows users to access millions of used car
listings—posted by all major used car apps and dealer websites—all
in one search. The company strives to create the automotive
marketplace of the future—one with a world class product and user
experience. In addition to a comprehensive search, the Autolist
mobile application provides used car buyers with decision-making
information such as listing ages and price fluctuations, comparable
vehicle prices and Carfax Vehicle History Reports.
Corey Lydstone, president and chief executive officer of
Autolist, said, “We have been working with the team at Square 1
since day one and continue to be impressed with their service,
support and ability to understand our business. When it came time
to add a credit facility, they were the perfect partner for
us.”
Alex ter Wee, vice president in Square 1 Bank’s technology
banking practice, added, “Corey and the Autolist team are bringing
simplicity and efficiency back to the online car buying and selling
process. Consumers want a better car shopping experience and the
Autolist app delivers in the best ways possible. Square 1 is proud
to partner with Autolist and support their vision to lead the used
automotive marketplace.”
About AutolistAutolist (www.Autolist.com) is the fastest growing
mobile focused new and used car search engine. With the top rated
automotive apps in the Google Play and iOS App Stores, the company
is leading the way for consumers looking to research, find and buy
their next vehicle across their devices and on the web. By
combining listings from top sites and dealers across the country,
Autolist offers the largest selection of new and used cars for sale
in the United States. Whether you're looking for a luxury or cheap
car, truck or suv, use our tools to analyze car prices, research
used car values, read reviews, review pricing history and easily
find your next ride at www.Autolist.com.
About Square 1 BankSquare 1 Bank is a division of Pacific
Western Bank, a Los Angeles-based commercial bank with over $21
billion in assets. A full service financial services partner to
entrepreneurs and their investors, Square 1 provides clients
flexible resources and attentive service to help their companies
grow. Square 1 offers a broad range of venture debt, treasury and
cash management solutions through offices in top innovation
centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver,
Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and
Washington, DC. Pacific Western Bank is a wholly-owned subsidiary
of PacWest Bancorp (NASDAQ:PACW). For more information, visit
www.square1bank.com.
Media Contact:
Square 1 Bank, a division of Pacific Western Bank
Dee McDougal
919.597.7479
dmcdougal@square1bank.com
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