Versant Funding provided an $8 million non-recourse factoring facility for a start-up tech company. The facility will be used as a bridge to delay an equity raise, giving the owners the ability to leverage strong growth over the next 18 months into a higher valuation.
This is the owners’ second venture with Versant. They had sold their interest in a previous tech start-up company after receiving an 18-month bridge factoring facility from Versant. The ensuing revenue growth resulted in a lucrative valuation which they parlayed into their current business.
