Liquidity and Capital Resources General As of December 31, 2021 , our principal source of liquidity was cash and cash equivalents totaling $514.4 million , which was held for working capital purposes, as well as the available balance of our revolving line of credit, described further below. We have financed our operations primarily through sales of our equity securities, conversions of our redeemable preferred stock , payments received from customers, and borrowings under our credit facility. On March 19, 2021 , we completed our IPO, in which we issued and sold 20,700,000 shares of our Class A common stock at the public offering price of $25.00 per share. We received net proceeds of approximately $485.5 million after deducting underwriting discounts and commissions. We believe our existing cash and cash equivalents and amounts available under our outstanding credit facility will be sufficient to support our working capital and capital expenditure requirements for at least the next twelve months. Our future capital requirements will depend on many factors, including, but not limited to, our obligation to repay any balance under our credit facility if we were to borrow against the facility in the future, our platform revenue growth rate, receivable and payable cycles, and the timing and extent of investments in research and development, sales and marketing, and general and administrative expenses . Credit Facility In May 2012, we entered into a Loan and Security Agreement with Pacific Western Bank for a revolving line of credit with a maturity date of May 15, 2013 . Since the original agreement, we amended and restated the agreement in February 2020, or the Loan Agreement, and have executed subsequent amendments to extend the maturity date until May 12, 2022 . Advances under the Formula Line bear interest equal to the greater of (A) 0.20% above Pacific Western Bank’s prime rate then in effect; or (B) 4.50% . Advances under the Non-Formula Line bear interest equal to the greater of (A) 0.75% above Pacific Western Bank’s prime rate then in effect; or (B) 5.00% . Interest is due and payable monthly in arrears. We may prepay advances under the credit facility in whole or in part at any time without premium or penalty. In April 2021, we amended the Loan Agreement with Pacific Western Bank, or the First Amendment, and exercised our option to increase our available line of credit from $25.0 million to $35.0 million . Additionally, we amended our minimum EBITDA and minimum net revenue covenants, which reset each annual period. In May 2021 , we issued a letter of credit to DoorDash, Inc., or DoorDash, in the amount of $25.0 million in connection with our Restated Delivery Network Agreement. See “Note 14—Commitments and Contingencies” of the Notes to Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K for further details. In August 2021, we amended our Loan Agreement, or the Second Amendment, to maintain minimum cash deposits with Pacific Western Bank equal to the lesser of $75.0 million or an amount equal to 50% of all of our cash deposits with any bank, and to extend certain reporting requirements from 30 to 45 days after each quarter end. In December 2021 and in connection with the Wisely Acquisition, we further amended our Loan Agreement, or the Third Amendment and Joinder, to reflect Wisely LLC as an additional borrower. The foregoing description of the material terms of the Third Amendment and Joinder does not purport to be complete and is subject to, and is qualified in its entirety by, reference to the full terms of the Third Amendment and Joinder, which we have filed as an exhibit to this Annual Report on Form 10-K. We refer to the Loan Agreement, as amended, as the “Amended Loan Agreement.” As of December 31, 2021 , we had $8.6 million available under Amended Loan Agreement, after consideration of $25.0 million in our letter of credit to DoorDash and $1.4 million in our letter of credit on the lease of our headquarters. See “Note 14—Commitments and Contingencies” of the Notes to Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K for further details on the letters of credit. As of December 31, 2021 , we had no outstanding borrowings under the line of credit, and no amounts have been drawn against any of our letters of credit. No interest was incurred during the year ended December 31, 2021 related to the Amended Loan Agreement. The interest rate applicable on the outstanding balance as of December 31, 2020 was 5.00% . Our obligations under the Amended Loan Agreement are secured by substantially all of our assets. 62