https://finance.yahoo.com/news/sequoia-talks-lead-mercury-funding-175609828.html

that should be for their card biz that competes against ramp/brex. natixis is definitely not able to lend for a different capacity here so conventional debt is a misleading name

i wonder why they raised it then? hopefully https://warpcast.com/btayengco/0x7838e8ed is right and it's some kind of secured facility specifically for pass-thru lending, which frankly makes a lot of sense / isn't the weird narrative violation i originally thought when i saw it

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