Wells Fargo Capital Finance (UK) Limited, a unit of Wells Fargo Commercial Capital, announced that it has provided a senior-secured credit facility for essensys, which provides software to the global coworking industry.Separately, WFCF provided a senior-secured credit facility to Bynder B.V., a provider of cloud-based digital asset management software.

Wells Fargo’s credit facility of £11 million, including a £10 million term loan and a £1 million revolver, will support essensys in meeting its growth and working capital needs for the next phases of its strategy. This recurring revenue-based loan is structured accordingly to provide a flexible financing solution that helps the company continue its U.S. expansion to date.Wells Fargo is the sole lender in the facility and worked closely with the Bynder team, Insight Venture Partners, and Deloitte (Netherlands) in the financing process.

Bynder, backed by Insight Venture Partners, is one of the leading enterprise Software as a Service (SaaS) solutions for content and brand lifecycle management. The company has grown rapidly since its 2013 founding, employing more than 300 people across seven offices worldwide.

Wells Fargo’s credit facility refinanced previous debt facilities that supported Bynder’s 2018 acquisition of U.S.-based WebDAM and will be used to provide a platform for the company’s growth. Structured as a recurring revenue-based cash flow loan, the facility aligns with Bynder’s growth trajectory and is intended to provide further support for both organic and inorganic expansion.

Wells Fargo is the sole lender in the facility and worked closely with the Bynder team, Insight Venture Partners, and Deloitte (Netherlands) in the financing process.