May Mobility secures credit facility from Sumitomo Mitsui Banking Corporation

$15 million of non-dilutive growth capital financing provides additional liquidity and serves as a proof point for company’s continued growth and success

  • New line of credit indicative of the confidence of the banking community with the company.
  • May Mobility recently closed on $111 million Series C funding to be used to deliver equitable autonomous mobility solutions.

May Mobility, a leader in the development and deployment of autonomous vehicle (AV) technology, today announced it has secured a new $15 million line of credit from Sumitomo Mitsui Banking Corporation (SMBC) with a four-year loan term.

“We are excited to work with SMBC and view this credit agreement as the beginning of a long term relationship,” said Ryan Green, Chief Financial Officer of May Mobility. “Coupled with our latest close of Series C funding, this debt facility provides additional liquidity to assist in the advancement of our autonomous mobility business.” 

May Mobility recently closed on a $111 million Series C round of funding that is going to be used to deliver equitable autonomous mobility solutions.