DALLAS, May 28, 2021 – Comerica Bank joins new and existing investors of Vendasta in a CA$119.5 million financing round to support the growth and expansion of the end-to-end ecommerce platform.

Vendasta, a Canada-based tech company, creates software that provides local business-serving experts—such as marketing agencies, media companies, and managed service providers—with the tools they need to market, sell, bill, fulfill, and serve digital solutions to small and medium businesses (SMBs). A small business owner receives a single login to the digital tools and analytics they need to successfully run and manage their business.

The raise is led by new Vendasta backer Lugard Road Capital, joined by Nicola Wealth and existing investors including Comerica Bank’s Technology and Life Sciences Division. Comerica has been Vendasta’s preferred lender since 2019.

“Comerica is looking forward to continuing our existing partnership with Vendasta,” said Dave Samra, Senior Vice President, Comerica Bank Technology and Life Sciences. “The company has performed very well despite COVID headwinds, and we’re happy to participate in this financing round to assist the company with its growth plans.”

Vendasta will use the funds to further accelerate innovation that makes SMB technology easy and accessible through its international network of local experts.

“Comerica has always empowered business owners with the banking and investment tools they need to grow and realize their dreams,” said Vendasta CEO Brendan King. “We are proud to work with their Technology and Life Sciences Division in contribution to that vision by democratizing digital technology for local businesses.”

Comerica’s technology division serves venture capital-backed companies in all stages, from early stage cash burning to late stage post-IPO, in many verticals such as SaaS, hardware, security, big data, infrastructure, e-commerce, cloud, mobile, fintech, IIOT, digital media, education, gaming, and ag-tech. Comerica’s team in Canada has over 30 years of experience in technology banking, with product offerings that include Growth Capital Term Loans, MRR/ARR lines of credit, Acquisition/Buyout Financing, and Cap Call lines for Venture Capital Funds.

About Comerica Bank Technology and Life Sciences Division

Comerica Bank’s Technology and Life Sciences Division (TLS) remains one of the nation’s leading technology banking practices, specializing in providing comprehensive banking solutions to support technology and bioscience companies at any stage of their life cycle. Veteran bankers provide credit and financial services and products to young, growing, venture-backed technology and life science companies, as well as their mature counterparts. The TLS Division serves all major U.S. and Canadian technology centers from coast-to-coast. Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica reported total assets of $86.3 billion at March 31, 2021.

About Vendasta

At Vendasta, our core purpose is to drive local economies by democratizing technology for small- and medium-sized businesses (SMBs). We accomplish this by providing a robust platform to local experts around the world—our channel partners. Partners use Vendasta’s technology to market, sell, bill, fulfill, and deliver digital solutions to their SMB clients. Our end-to-end platform and marketplace are tightly integrated into an operating system delivered to SMBs, providing a single sign-on to their digital products and analytics. Vendasta serves 50,000+ channel partners, who in turn work with more than five million SMBs worldwide. Sign up for free and explore Vendasta at www.vendasta.com.