CIBC Innovation Banking led the arrangement and served as the administrative agent for a substantial debt facility for YipitData, a New York-based leader in alternative data insights.
YipitData, trusted by investment funds and large corporations, offers comprehensive data analysis crucial for strategic financial decisions.
The funding underscores CIBC Innovation Banking’s commitment to supporting YipitData’s operational flexibility and scalability.
Imran Premji, Managing Director at CIBC Innovation Banking, stated, “We are excited to extend our partnership with the YipitData team as they continue their growth and leadership within the alternative data space.
“Our main goal was to provide the company with flexibility for the road ahead, and this syndicate has the ability to scale with the Company as needed. We look forward to many more years of successful collaboration ahead.”
YipitData, renowned for its robust data analysis platform, processes billions of data points daily, delivering in-depth insights and reports on over 2,000 companies. This capability positions YipitData as a crucial resource for its clients, aiding them in making informed investment and business decisions.
Steven Seperson, CFO of YipitData, said, “We are thrilled to continue our partnership with CIBC and thankful for the support of the bank group.
“While our previous credit facility was not set to mature for another few years, we took this opportunity to reduce our borrowing costs. This new debt commitment demonstrates the strength of our business and provides us with the flexibility to support our strategy.”
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
