BankerBay, an investment banking platform for M&A and private equity deals around the world, has closed a USD2 million convertible funding round.
Participants in the round included investors from prior rounds as well as new high profile family offices and global leaders in the investment banking industry.
The latest financing round will support BankerBay's continued global expansion, solidifying its presence in major financial markets through the build out of sales, marketing and business development teams in London and New York. In a bid to meet current demand from the corporate and banking worlds, through a combination of strategic partnerships and organic growth, BankerBay will use the proceeds to fund further global expansion of its investment banking platform.
This comes on the heels of accelerated growth in the first six months of 2016, during which time the company has seen increases of between 250 per cent and 300 per cent in its key metrics, including a huge increase in deal flow amid the continuing deterioration of conditions in the traditional investment banking industry.
BankerBay's primary focus is the global mid-market segment that involves deals and investment opportunities ranging from USD10 million to USD250 million in transaction value.
As of June, the platform has over 3,000 live deals, including over 1,000 transactions in its "M&A Vault". In 2016 (year-to-date), BankerBay has received transactions worth over USD40 billion for approval, which constitutes more than the deal value for all of 2015. These transactions are distributed fairly evenly across North America, Western Europe, Asia-Pacific, and Emerging Markets.
BankerBay subscribers have access to this pre-verified and curated inventory of live, institutional quality deals, where its platform technology matches detailed deal characteristics with similarly detailed investment criteria of thousands of funds around the world.
Since its inception in 2014, BankerBay has introduced deals worth over USD53 billion in private equity funding, project finance and mergers & acquisitions and real estate transactions. At the start of this year, BankerBay launched a dedicated platform to facilitate real estate transactions ranging from mixed developments, to hospitality, commercial and more. In just over six months, the new platform has attracted institutional quality transactions worth over USD7 billion and is growing at a stellar pace.
"Leveraging technology is particularly important to help foster investment in the increasingly fragmented middle-market as the entire traditional investment banking industry continues to face mounting pressure, cutbacks and big reductions in budget," says Romesh Jayawickrama, founder and CEO of BankerBay. "We are extremely pleased and honoured to have the continued support from an experienced group of industry leaders who have first-hand experience of the tectonic shift underway in the banking industry and recognise the tremendous potential for BankerBay to spearhead this exciting period of change."
