CIBC Innovation Banking Leads Senior Syndicated Debt Commitment for Yipit, LLC
June 12 2024 - 10:00AM
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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version on businesswire.com: https://www.businesswire.com/news/home/20240612310335/en/
Beth McKay, beth.mckay@cibc.com, 416-552-1391
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