Versana announces $26m capital raise from Barclays, existing investors
Data company Versana has announced a $26m (£19.86m) capital raise from a cohort of existing investors, as well as Barclays.
Bank of America, Citi, Deutsche Bank, J.P. Morgan, Morgan Stanley and Wells Fargo also participated in the fundraise, while Barclays joined as a subscriber and provider of its agented corporate loan data. This makes Barclays the tenth bank to commit to the Versana platform.
The money will be used to accelerate Versana’s global expansion plans.
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“The significance of bringing Barclays in as an investor, subscriber and agent data contributor is a huge win for the global syndicated loan market,” said Versana’s founder and chief executive Cynthia E. Sachs.
“Their significant commitment, alongside meaningful follow-on investments from our existing investors, validates the market’s confidence in our game-changing platform.
“As we leverage and scale our core digital data product into new innovative solutions, Barclays is the perfect partner to help us expand geographically to modernize the global syndicated loan market from front to back.”
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Versana is a data management fintech which focuses specifically on the syndicated loan asset class. It has more than 4,800 corporate loan facilities totalling $2.7tn in commitments on its platform.
“As a global leader in the debt capital markets, we are thrilled to join Versana to support their US growth, as well as lead them into the UK and European markets in the coming year,” said Tim Hartzell, global head of portfolio management at Barclays.
“We’re excited to partner with our industry peers in this much needed initiative and accelerate the long-awaited digital transformation of this important asset class.”
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