Today Versana, the syndicated lending platform, announced a $26 million funding round and the addition of Barclays as a new investor and platform member. Other existing investors that joined the round were Bank of America, Citi, Deutsche Bank, J.P. Morgan, Morgan Stanley and Wells Fargo. Those that didn’t participate include Credit Suisse and US Bancorp. It follows a $40 million funding round last March.
Barclays becomes a subscriber and provider of agent corporate loan data, and the tenth bank on the platform.
Without a digital solution, managing syndicated loans is a messy process. Every time a borrower draws down a loan or makes a payment, each lender needs to keep track. Hence the need for a centralized solution such as Versana.
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