---
title: "Metycle Secures $150M Credit Facility — It Is Debt, Not a $150M Equity Round"
description: "Metycle secured a $150 million asset-backed credit facility from Rivonia Road Capital to finance secondary-metal trades. The facility should not be counted as $150 million of venture equity."
date: 2026-09-30T00:00:00.000Z
source: https://venturecapitaltracker.com/metycle-150m-credit-facility-debt
---

# Metycle Secures $150M Credit Facility — It Is Debt, Not a $150M Equity Round

> Metycle secured a $150 million asset-backed credit facility from Rivonia Road Capital to finance secondary-metal trades. The facility should not be counted as $150 million of venture equity.

**TL;DR:** Metycle secured a **$150 million asset-backed credit facility** from Rivonia Road Capital in September 2026. The financing expands working capital available for secondary-metal transactions. It is **debt capacity, not a $150 million priced equity round**.

Canonical company profile: [Metycle](/startup/metycle).

## What the financing is

Metycle operates a secondary-metals trading and processing platform. Large physical trades create a working-capital problem: suppliers often need payment before buyers settle.

An asset-backed facility can bridge that gap.

| Item | Detail |
| --- | --- |
| Facility | $150M |
| Type | Asset-backed credit |
| Provider | Rivonia Road Capital |
| Equity valuation disclosed | No |

## Why VCT does not classify this as a venture round

Credit facilities and equity rounds answer different questions.

An equity financing exchanges ownership for capital and can establish a valuation. A credit facility makes borrowing capacity available under agreed terms and collateral conditions.

Putting both in the same "funding raised" total without a type label can badly distort how much equity investors actually put into a company.

For Metycle, the correct representation is therefore:

**$150M credit facility / debt financing — valuation not disclosed.**

## Why the facility matters operationally

A metals marketplace can grow transaction volume faster if it has enough working capital to settle large trades reliably. The facility therefore matters even though it does not price the company.

This is exactly the kind of non-equity capital VCT should track while keeping it separate from venture funding.

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.