Optoro picks up $40 million in debt financing
Optoro, the Lanham-based re-seller of unwanted retail goods, said Tuesday it had picked up $40 million in debt financing from two new investors.
The start-up, co-founded by Washington entrepreneurs Tobin Moore and Adam Vitarello, is borrowing the sum from TriplePoint Venture Growth and Square 1 Bank, which specialize in loans to entrepreneurs and venture-capital backed businesses.
The latest round is in addition to a $50 million investment Optoro received in December. That round was led by Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers, and several Washington investors, including Revolution Growth, the D.C. venture-capital firm led by Ted Leonsis and Steve Case; Grotech Ventures of Tysons Corner, Va.; and Swan & Legend Venture Partners.