Founding investors Bank of America, Citi and JP Morgan joined the round for Versana, which is aiming to bring transparency, efficiency and velocity to the $5 trillion syndicated loan market through its digital data platform. Launched late last year, Versana is the market’s first real-time, multi-tenant solution centralising corporate loan data flowing directly from administrative agents’ books and records. The platform says that by providing greater transparency into loan level details and lender portfolio positions, it facilitates straight-through processing and long-term, scalable market growth, enabling participants to convert from legacy manual processes to a self-service platform. The new investors intend to contribute loan data and will become key clients of the platform. Mike Weir, US head, loan trading, Deutsche Bank, says: “The innovation that Versana is bringing to market is exactly what’s needed to increase velocity and spur growth for the entire industry. We are glad to join our peers in this effort to propel the market forward.” Cynthia Sachs, CEO, Versana, adds: "With the addition of our four new investors, we expect to have more than 75% of US loan market deals on our platform in real-time, an enormous achievement considering we launched the company only one year ago.”