Gopuff is seeking to borrow up to $300 million as a cash cushion, according to people familiar with its plans, as it tries to navigate slowing growth in its instant-delivery business, falling valuations for tech companies and a weakening economy.
The SoftBank Group company is nearing an agreement with bankers to establish a credit line, known as a revolver loan, that will allow Gopuff to quickly borrow up to a certain amount of money when needed, the people said.