Versant Funds $1.2MM Non-Recourse Factoring Facility to Medical Research Community Distributor

Versant Funding provided a $1.2 million non-recourse factoring facility to a distributor serving the academic and commercial medical research communities.

This company required a quick infusion of cash as a bridge to a planned capital raise. The company’s existing investors were unwilling to contribute additional equity into the business, so the company looked to factoring as a non-dilutive alternative to generate the cash needed until the capital raise was complete.

“Versant’s offering was an excellent match for this growing business in need of short-term capital,” Chris Lehnes, a business development officer for Versant Funding and the originator of this financing opportunity, said. “Because we are strictly focused on the quality of our client’s accounts receivable and do not underwrite their business, we can move very quickly, which is just what this new client needed.”

Versant Funding offers non-recourse factoring solutions to companies with B2B sales from $100,000 to up to $10 million per month.