Versant Funding Provides $5MM Factoring Transaction to Tech Company

Versant Funding funded a $5 million non-recourse factoring transaction to a tech company which sells hardware and software to major media companies._x000D_
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This private equity sponsored business required a rapid infusion of capital to meet its cash needs through the end of the year. Versant was able to quickly put a factoring facility in place which will provide the company with the short-term liquidity they sought._x000D_
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“Versant’s offering was an excellent match for this business in need of bridge financing,“ Chris Lehnes, business development officer for Versant Funding, said. “Because our approach to factoring focuses solely on the quality of accounts receivable and does not require an underwriting of our client, we were able to fund this large, complexly organized business faster than any traditional funding source could.”