Vesta Closes US$25 Million Term Loan From Runway Growth Capitalby Fintech News Singapore January 17, 2023
Vesta, an end-to-end fraud prevention platform for digital purchases, has closed a senior secured term loan of US$25 million from Runway Growth Capital LLC.
The company said that the non-dilutive financing will provide it with additional working capital to support growth.
Vesta’s instant transaction guarantee platform is backed by years of transactional data history and uses machine learning.
This enables improved approval rates and a better customer experience for online purchases 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.
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.”
said Brad Pritchard, Managing Director at Runway.
“Runway is the perfect growth partner; they understand our needs, the changing commerce market, and the long-term trajectory of our business.
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.”
said Ron Hynes, Chief Executive Officer of Vesta.