Hamburg, May 2024 – YPOG advised the Canadian Imperial Bank of Commerce (CIBC) on the €17 million financing of VEDA Group. The VEDA Group had recently been acquired by Investcorp Technology Partners.
VEDA is an industry-leading provider of HR software and Payroll-as-a-Service based in Alsdorf (Germany). Founded in 1977, the company intends to use CIBC's financing to strengthen its market position in the DACH region and expand into other international markets such as Benelux, the UK and the Nordics, while pursuing its buy-and-build strategy with a focus on payroll software companies and payroll services.
The team led by Matthias Kresser has advised CIBC Innovation Banking already on a number of loan financings of this and similar types.
Team
Matthias Kresser (Lead, Transactions), Partner, Berlin/Hamburg
Jan Stammler (Transactions), Associate, Berlin/Hamburg
About CIBC Innovation Banking
CIBC Innovation Banking provides strategic advice, cash management and financing to innovative companies in North America, the UK and select European countries at every 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 spans CIBC's Commercial Banking, Private Banking, Wealth Management and Capital Markets businesses.
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