FinTechFunding

Wasabi: Raises $27.5M in Debt Financing

  • Wasabi, a Boston, MA-based hot cloud storage company, raised $27.5m in debt financing
  • MGG Investment Group provided the facility, bringing total financing raised since launch to nearly $140m
  • The company will use the funds to enhance its infrastructure, including constructing additional data centers in new geographies
  • Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi provides cloud storage for businesses all over the world
  • It enables organizations to store and instantly access data with no unpredictable egress fees
  • In 2020, the company’s total storage expanded 150%, annual revenues grew by more than 3 times over 2019, and customer base increased to more than 21,000 businesses
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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