Syndicated loan platform Versana raises $26m with plans for global expansion
Syndicated loan market firm Versana has landed a $26 million capital raise and welcomed Barclays as a new investor, with the bank becoming the latest subscriber and provider of the fintech’s agented corporate loan data.
Versana raises $26 million from existing investors and Barclays
“The significance of bringing Barclays in as an investor, subscriber, and agent data contributor is a huge win for the global syndicated loan market,” comments Cynthia Sachs, Versana’s founding CEO.
Sachs adds that Barclays will also help the company expand geographically. Versana will benefit from the bank’s existing presence in the UK and Europe, with an ambition to “expand globally”.
Bank of America, Citi, Deutsche Bank, JP Morgan, Morgan Stanley, and Wells Fargo also participated in the round as existing investors, having previously backed Versana’s $40 million equity raise last year.
Founded in 2021, New York, US-based Versana operates a real-time digital data platform that centralises corporate loan data from the books and records of administrative agents across the syndicated loan and private credit markets.
This approach, it asserts, provides “unprecedented transparency into global loan level details and lender portfolio positions, bringing efficiency and velocity to the entire asset class”.
The fintech claims to be currently experiencing “rapid growth” with its platform now handing 4,800 different types of corporate loans, including Term Loan As, Term Loan Bs, and revolving credit lines, with a combined value of $2.7 trillion.
