BDC Capital’s Growth & Transition Capital division provided C$2 million in financing to Montreal-based TickSmith, a big data and fintech firm. TickSmith is backed by Anges Québec and Illuminate Financial.
MONTRÉAL, February 28, 2020—TickSmith of Montréal, Québec has secured new funding of two million dollars from BDC Capital’s Growth & Transition Capital division. Founded in 2012, TickSmith is a fast-growing big data and fintech firm that enables organizations to efficiently consolidate, normalize, analyze and share large amounts of data through its GOLD software platform. Currently, the platform is offered to many prominent financial institutions, such as the Chicago Mercantile Exchange, Nasdaq and National Bank of Canada. The company has previously raised seed and Series A rounds from Anges Québec and Illuminate Financial.
The non-dilutive financing provided by BDC Capital is meant to sustain TickSmith’s fast pace of growth while it prepares its next round of equity financing. The proceeds will notably be used to further improve its platform in order to speed up go-to-market time and make it compatible with more cloud computing environments.
The financing comes in the form of a special loan solution BDC Capital purposefully built for technology companies with monthly recurring revenue (MRR). In fast-growing companies like TickSmith, working capital is under constant pressure. To maximize TickSmith’s liquidities over the loan’s term, BDC Capital gave its financing a patient yet flexible structure that allows the company to make principal repayments only at maturity.
“We’re extremely grateful to have firms like BDC Capital helping us continue to grow our business so that we can be top-of-mind for institutions around the world looking for an end-to-end, robust data management solution,” says Francis Wenzel, CEO of TickSmith. “The fast growth we have already witnessed is extremely promising and as data continuously becomes a global business strategy for firms, we expect to see exponential interest.”
This transaction was led by Nicolas Beaudet, Director, Growth & Transition Capital at BDC Capital’s Montréal office. “TickSmith checks a lot of the boxes that make a promising MRR firm for us,” explains Beaudet. “The company has built a platform that meets clearly identified needs in the buoyant big data and fintech markets, and that brings tremendous value to its users, as its A-list of loyal clients demonstrates. The members of TickSmith’s leadership team are experienced and complement each other well, and they are supported by strategic investors who play an active role in accelerating the company’s growth.”
TickSmith combines cutting-edge technology and a deep knowledge in Capital Markets. Its scalable and modular GOLD software platform is crucial in today’s data-driven economy. GOLD—an acronym for gather, organize, leverage and distribute—is a robust end-to-end data management and analytics solution optimized for the cloud.
Financial enterprises accumulate massive amounts of data that is scattered all over the place and key insights are lost in the mountains of data. Our GOLD Platform securely processes thousands of data sets, productizes data flows, automates management, enrichment & delivery and enables petabytes of data.
About BDC Capital
BDC Capital is the investment arm of BDC—Canada’s only bank devoted exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.