Versature secures $1.1 mln in debt financing from BDC, RBC

Versature Corp, a Canadian phone solutions provider, has secured $1.15 million in funding. BDC Capital's Growth & Transition Capital provided $750,000 in subordinated debt, enabling an additional $400,000 in credit from the Royal Bank of Canada. Founded in 2003, Ottawa-based Versature provides cloud-based voice-over-Internet-protocol phone and communication solutions to businesses across Canada. It said the funds raised will support the company's continued growth by helping to expand its marketing and sales operations and target new strategic markets.

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