CIBC Innovation Banking provided a $1.5 million debt facility in growth capital to Vessel Funds, a platform that aims to simplifies investor relations, fund reporting and compliance tasks. The financing will support Vessel’s continued global expansion and product innovation.
“We are excited to support Vessel as it continues to innovate in the fund management space,” Eric Laflamme, managing director of CIBC Innovation Banking, said. “Vessel’s technology is transforming how private market funds and their LPs operate, and we look forward to supporting its continued growth.”
Thomas Terrats, CEO and co-founder of Vessel, added, “This relationship with CIBC Innovation Banking is a significant milestone for Vessel. The growth capital will enable us to accelerate our product development and expand our reach, serving more funds globally while helping more General Partners and Limited Partners unlock greater value from their investments.”
CIBC Innovation Banking also provided a $1.5 million debt facility in growth capital to FLiiP, an end-to-end management software tailored for fitness businesses. The financing will support FLiiP’s market expansion in Canada, the United States and in Europe.
“Working with CIBC Innovation Banking, a lender with deep experience supporting high-growth companies and an established presence across North America and Europe, is a significant milestone for FLiiP,” David Bourbonnière, CEO and founder of FLiiP, said. “Their team’s support will enable us to accelerate our expansion into these key markets and further our mission to empower gyms with innovative management solutions.”
Laflamme added, “We are thrilled to support FLiiP as it continues to transform the fitness industry with its innovative, all-in-one gym management platform. Leveraging his experience as a former gym operator, David, with the help of his team is addressing the critical need for effective software solutions that enable gym businesses to run seamlessly.”
