CIBC Innovation Banking provides $6.5 million expansion capital to wealth management analytics company , Inc.
Summary
BETHESDA, MD, March 4, 2019 /CNW/ – WealthEngine (WE), the leading provider of predictive marketing, analytics and audience development services, announced it has entered into a credit financing agreement for $6.5 million in growth capital from CIBC Innovation Banking. With this new funding WealthEngine will continue to expand its offering of innovative analytics tools, enabling companies in the for-profit and not-for-profit sectors to access powerful insights to target, segment and engage with their customers and donors. “The combined growth capital and working capital provided by CIBC Innovation Banking will help us continue to scale our company and to introduce new solutions to the global wealth management and fundraising industries,” said PV Boccasam, CEO, WealthEngine Inc. “We are excited to work with WealthEngine as we deploy creative financing solutions to help further accelerate the company’s growth,” said Paul Gibson, Managing Director, CIBC Innovation Banking, Virginia. The team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in Canada and the U.S. WealthEngine works with more than 3,000 industry leading financial services, higher education, healthcare systems, advocacy, and high-end hospitality organizations to deeply understand their current and prospective donors and customers. Our cloud-based prospect engagement platform contains WE Profiles for 250M adults in the U.S., enriched with demographics, lifestyle and affinity, charitable/political giving history, real-estate and other wealth signals.
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