Runway Growth Capital Announces Senior Secured Term Loan to Vesta
Summary
WOODSIDE, Calif., January 4, 2023 Runway Growth Capital LLC (Runway), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced the closing of a senior secured term loan of $25 million to Vesta, a leading global transaction guarantee platform for online purchases. The non-dilutive financing will provide Vesta with additional working capital to support growth.Vestas instant transaction guarantee platform, backed by years of transactional data history, uses machine learning to enable unparalleled approval rates and a better customer experience for online purchases, all while reducing retailers exposure to fraud-related costs. Around the world, leading telco, e-commerce, travel, and financial services companies trust Vestas platform to enhance approvals for legitimate sales and eliminate chargebacks and other forms of digital fraud.We are excited to provide additional capital to enhance Vestas growth and support the development of a thoughtful and strategic product roadmap, said Brad Pritchard, Managing Director at Runway. For more information on Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.Statements included herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Using strong data science and advanced machine learning backed by 26 years of experience, companies around the world rely on Vesta to increase the completion of legitimate sales and eliminate chargebacks and other forms of digital fraud in real time.
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