Yahoo Finance CIBC Innovation Banking Leads Senior Syndicated Debt Commitment for Yipit, LLC
NEW YORK, June 12, 2024--(BUSINESS WIRE)--CIBC Innovation Banking is pleased to announce that it recently acted as the lead arranger and an administrative agent on a debt facility for New York-based Yipit, LLC (YipitData), the trusted source of alternative data insights for investment funds and large corporations.
YipitData’s platform analyzes billions of data points every day to provide accurate, detailed insights and reports on over 2,000 companies providing mission-critical data for investment funds and large corporations.
"We are excited to extend our partnership with the YipitData team as they continue their growth and leadership within the alternative data space," said Imran Premji, Managing Director, CIBC Innovation Banking. "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."
"We are thrilled to continue our partnership with CIBC and thankful for the support of the bank group," said Steven Seperson, CFO, YipitData. "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."
Existing investors include Carlyle (NASDAQ: CG), and Norwest Venture Partners.
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.
About YipitData
YipitData is the trusted source of alternative data insights for investment funds and large corporations. We analyze billions of data points every day to provide accurate, detailed insights on ridesharing, e-commerce marketplaces, payments and more. Our on-demand insights team uses proprietary technology to identify, license, clean and analyze the data many of the world's largest investment funds and corporations depend on. YipitData is proud to have created a culture that prizes mastery, ownership and purpose. For more information, visit YipitData.com.
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Contacts
Beth McKay, beth.mckay@cibc.com, 416-552-1391
