Business
Runway Growth Capital Announces Senior Secured Term Loan to Vesta
Runway's Non-Dilutive Financing Provides Vesta with Additional Growth Capital to Support the Company's Continued Success and Global Expansion WOODSIDE,
About this update from Runway Growth Finance Corp.
[{"type":"text","content":"Runway's Non-Dilutive Financing Provides Vesta with Additional Growth Capital to Support the Company's Continued Success and Global Expansion \n\n \n \n \n \n \n \n\n \nWOODSIDE, Calif., Jan. 4, 2023 /PRNewswire/ -- 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.\nVesta's 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 Vesta's platform to enhance approvals for legitimate sales and eliminate chargebacks and other forms of digital fraud.\n\"We are excited to provide additional capital to enhance Vesta's growth and support the development of a thoughtful and strategic product roadmap,\" said Brad Pritchard, Managing Director at Runway. \"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.\"\n\"Runway is the perfect growth partner; they understand our needs, the changing commerce market, and the long-term trajectory of our business,\" explained Ron Hynes, Chief Executive Officer of Vesta. \"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.\"\nAbout Runway Growth Capital LLCRunway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of $10 million to $100 million to fast-growing companies based in...