Commits to $26
Million Capital Raise Alongside Existing Investors
NEW YORK, Sept. 10, 2024 /PRNewswire/ -- Versana today
announced the closing of a $26
million capital raise with the addition of
Barclays as an investor in its centralized, real-time
digital data platform. Existing investors Bank of America, Citi,
Deutsche Bank, J.P. Morgan, Morgan Stanley and Wells Fargo also
participated in this round. In addition, Barclays joins as a
subscriber and provider of its agented corporate loan data,
becoming the tenth bank to commit to Versana's next-generation
platform.
As a major player in the U.S. and Europe, Barclays' inclusion is clear evidence
of Versana's growing success in transforming the $7 trillion broadly syndicated loan and private
corporate credit markets globally.
"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 Founding CEO
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."
The addition of Barclays as a key stakeholder also advances
Versana's plans to expand globally. Barclays' long-established
foothold in the U.K. and Europe,
along with its franchise in the U.S., further strengthens Versana's
mission.
"As a global leader in the debt capital markets, we are thrilled
to join Versana to support their U.S. growth, as well as lead them
into the U.K. 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."
Versana's rapid growth is further evidenced by having over 4,800
corporate loan facilities (Revolvers, Term Loan As and Term Loan
Bs) totaling $2.7 trillion in
commitments on its industry-leading 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," said Sachs. "We're excited to
welcome Barclays and greatly look forward to further developing
this valuable relationship."
About Versana
Versana is an industry-backed enterprise
data and technology company transforming the syndicated loan and
private credit markets. By digitally capturing agent banks'
corporate loan data on a real-time basis, Versana provides
unprecedented transparency into global loan level details and
lender portfolio positions, bringing efficiency and velocity to the
entire asset class. Through its centralized platform, participants
can rest assured they are accessing the loan market's most credible
source of deal information. With the support of its investors,
Versana is fast becoming the technology of choice to usher in the
long-awaited modernization of the corporate loan market. For more
information, visit versana.io.
Media Contact
Forefront Communications for Versana
versana@forefrontcomms.com
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