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Canary Medical: Receives $20M Venture Loan Facility | Fintech InShorts: Latest fintech news, analysis by experts

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Canary Medical: Receives $20M Venture Loan Facility

By Steve Sam

January 6, 2021

Canary Medical, Inc., a Canada-based medical data company, received a $20m venture loan facility
Horizon Technology Finance Corporation (NASDAQ: HRZN) and Silicon Valley Bank provided the financing
Under the terms of the agreement, Horizon and SVB will each provide Canary Medical with $10m of borrowing capacity
The company expects to use the loan proceeds for general working capital purposes
Canary Medical is a medical data company improving healthcare outcomes through the continuous collection, analysis
The company, which has U.S. offices in Carlsbad, CA, has raised approximately $45m from a premier syndicate of investors