TORONTO--(BUSINESS WIRE)--Oct. 22, 2024-- CIBC Innovation Banking announced today that it has provided credit facilities to support Vertu’s strategic investment in Toronto-based LumiQ, a leading technology-enabled education platform offering accredited professional development courses and content to accounting and finance professionals. Founded in 2016, LumiQ works with over 1,000 corporate and accounting firms across North America.

“CIBC Innovation worked hard to find the right solutions to our financing needs. And we are confident that the CIBC Innovation Banking team will continue to work with us to address our changing needs as the company scales,” said Michael Kravshik, CEO of LumiQ. “It’s that kind of collaborative attitude that has left us with the utmost confidence."

“We are thrilled to work with Vertu and the LumiQ team as they continue to build and expand upon their market-leading position," said Oleg Dudchenko, Executive Director, CIBC Innovation Banking. “LumiQ is well positioned to continue its growth in an exciting and dynamic space, providing quality content for its customers through its proprietary platform.”

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each 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, San Francisco, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.

About LumiQ

LumiQ is a podcast platform where engaging conversations with business leaders count as accredited learning for designated accounting and finance professionals. Course instructors include business leaders from companies such as Nike, Yahoo!, Google, and Microsoft; along with NYT best-selling authors and industry thought-leaders. With entertaining podcast formats and a convenient mobile app, LumiQ is transforming professional education for accountants and finance professionals by making it something it's never been before: enjoyable. For more information, please visit lumiqlearn.com.

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Beth McKay, beth.mckay@cibc.com, 416-552-1391

Source: CIBC Innovation Banking