Merchants Bancorp. announced that it has received $2.2 million in funding.
As of May 20, 2014, the company has received $2,150,000 in funding from nine investors in the first tranche.
On May 22, 2014, Merchants Bancorp. closed the transaction. The company raised $2,200,000 in the transaction. The company issued preferred shares in the transaction. The funding came primarily from existing shareholders.