Durham-based Square 1 Bank, which focuses on the venture capital industry, is expanding its services capabilities by acquiring an accounts receivable financing solutions firm in Silicon Valley.
Financial terms of the deal for Sand Hill Finance were not disclosed.
Square 1 says it has hired “all employees” of the firm and acquired “substantially all of the assets.”
“We are delighted to have completed the acquisition of Sand Hill Finance, and are happy to have the team join the Square 1 Bank family with expertise that complements our existing suite of loan products,” said Doug Bowers, Square 1’s chief executive officer, in a statement.
Sand Hill Finance focuses on working with emerging growth companies.
Square 1 operates offices in Austin, Boston, Denver, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC.
