Runway Growth Capital, a provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, closed a senior secured term loan of $25 million to Vesta, a global transaction guarantee platform for online purchases. The non-dilutive financing will provide Vesta with additional working capital to support growth.
Vesta’s instant transaction guarantee platform, backed by years of transactional data history, uses machine learning to enable approval rates and a better customer experience for online purchases, all while reducing retailers’ exposure to fraud-related costs.
“We are excited to provide additional capital to enhance Vesta’s growth and support the development of a thoughtful and strategic product roadmap,” Brad Pritchard, managing director at Runway, said. “When it comes to operations, Vesta has built a high-quality client base in a range of key verticals such as telco, e-commerce, travel and financial services.”
“Runway is the perfect growth partner; they understand our needs, the changing commerce market, and the long-term trajectory of our business,” Ron Hynes, CEO of Vesta, said. “Runway stood out due to the close relationships we’ve formed with their team and because we have found the firm to be a diligent, steady partner who will help us grow aggressively with minimal dilution and thoughtfully structured terms.”
