Versana raises $43 million led by BNP Paribas

Versana , a developer of a loan data platform,  has raised $43 million in a funding round led by BNP Paribas , with participation from Fitch Ventures, MassMutual Ventures , Motive Partners, and Apollo.

Existing investors including Bank of America, Barclays, Citi, Deutsche Bank, J.P. Morgan, Morgan Stanley, U.S. Bancorp, and Wells Fargo also participated.

The latest round brings total funding to ~$125 million.

The company plans to use the funding to expand into Europe, private credit, and data analytics. Versana operates in the broadly syndicated loan and private credit markets, with active facility coverage exceeding $4.1 trillion.

“We’re thrilled that BNP Paribas, Fitch Ventures, MassMutual Ventures, Motive Partners and Apollo have joined as strategic financing partners. This is truly a landmark moment, reflecting clear alignment across two very similar asset classes, BSL and private credit, and the need for modern digital infrastructure and data on one centralized platform. Together, with ongoing support from our existing investors, these new commitments strengthen our global position to accelerate platform growth, product innovation and digital data expansion.” – Cynthia Sachs, Founding CEO of Versana.

“BNP Paribas is proud to lead this investment and join Versana as a strategic partner. Versana is digitally transforming the broadly syndicated loan market at scale in the U.S. and Europe, and we look forward to working with our peers to accelerate the modernization of these global loan markets.” – Matthew Salvner, Head of Global Banking Americas at BNP Paribas.

“Fitch is excited to partner with Versana to support greater efficiency and transparency in the broadly syndicated loan market. We see meaningful opportunity to connect our complementary datasets to provide a more comprehensive and consistent view across loan data, including books and records, terms and conditions, covenants and related commentary.” – Steven Miller, Managing Director at Fitch.

“MassMutual Ventures is pleased to back Versana as an investor, building on Barings’ relationship with Versana as a subscriber. As BSL and private credit continue to scale, the need for accurate, standardized, accessible and transparent real-time data has never been greater. Versana is well-positioned to meet this need, and we support the continued evolution of the asset class.” – Eric Emmons, Managing Partner at MassMutual Ventures.

“We believe in Versana’s mission to modernize the broadly syndicated loan market. Improving transparency and efficiency in BSL operations is important for the entire market, and we look forward to partnering with Versana as the platform continues to grow.” – Jennifer Lin, Managing Director at Apollo.