ORIX Ventures, a leading venture and growth finance company that provides debt and equity capital to high-growth companies, announced today the closing of a growth term loan with SimpleTuition, the operator of ValoreBooks. Based in Boston, ValoreBooks is a leading online marketplace that offers customers the option of buying or renting millions of used textbooks from more than 2,000 verified, independent booksellers and rental providers across the country.
ValoreBooks is committed to helping reduce the overall cost of higher education for students. At the end of the semester, students can sell their textbooks back through the marketplace.
“Our goal is to make college cheaper for students in every sense, and to achieve that goal, we needed a financial partner who supports our growth initiatives,” said SimpleTuition CEO Kevin Walker. “The ORIX Ventures team understands our growth and the challenges and opportunities we face. They provided capital today and flexibility to grow that an expanding company requires. We look forward to continuing our partnership with them as we evolve.”
The funding from ORIX Ventures will provide growth capital for SimpleTuition to expand its marketplace and offer more titles to better serve students.
“SimpleTuition is a great fit for ORIX. The company has done a great job expanding their business over the prior two years which can be a strain on capital and cash flow,” said William Bishop, the managing director and co-head of ORIX Ventures. “We see immense value in SimpleTuition’s online platform and overall network which helps students mitigate some of the high costs of education.”
About ORIX Ventures
ORIX Ventures is dedicated to supporting high-growth companies with a range of debt and equity products and is capable of leading debt or private equity transactions with total commitments as high as $50 million. Since its inception in 2001, ORIX Ventures has invested more than $1.3 billion across more than 120 growth companies throughout the U.S. and Canada. ORIX Ventures is a subsidiary of ORIX USA, a Dallas-based financial services firm.