Return to search

Beedie Capital Partners invests $5 mln in Zafin Labs Technologies

Canadian private equity firm Beedie Capital Partners has made an investment in Zafin Labs Technologies Ltd, a provider of relationship banking software solutions for the financial services industry. Beedie committed a total of $5 million in convertible debt and standby facilities to be used for the purposes of growth capital. Additional terms of the deal were not disclosed. Founded in 2002, Zafin operates out of multiple global locations, including North America, Europe, Middle East, Africa and Asia Pacific. The Vancouver-based Beedie provides growth financing solutions for small to mid-market companies across a wide variety of industry sectors.

PRESS RELEASE

Beedie Capital Partners Announces $5.0 Million Growth Financing for Zafin

December 12, 2013

Vancouver, British Columbia – Beedie Capital Partners (“BCP”) is very pleased to announce the closing of a private financing for Zafin Labs Technologies Ltd. (“Zafin”). BCP is committing a total of $5.0 million in a combination of convertible debt and standby facilities to provide additional growth capital to Zafin (www.zafin.com). Additional terms of the financing were not disclosed.

Zafin is an award-winning provider of relationship banking software solutions for the financial services industry, with a growing client base of many of the world’s largest and most respected tier-1 banks. It operates out of multiple global locations including North America, Europe, Middle East, Africa and Asia Pacific. In November 2013, American Banker magazine also named Zafin as one of its “Top 10 FinTech Companies to Watch”.

Randy Garg, Managing Partner of BCP commented “Zafin is transforming the way banks manage their client relationships. We strongly believe in Zafin’s vision that banks will become digital markets for financial services enabled by technologies such as the Zafin software suite. Their established customer base of global banking clients, industry recognition, and the strong pipeline of new customers worldwide is a testament to the tremendous value in Zafin’s solutions. We are extremely excited about being part of the future of this company.”

“This investment will provide the additional capital needed to more aggressively pursue growth opportunities in the market” said Al Karim Somji, Founder and CEO of Zafin. “It was truly a pleasure to work with the BCP team. They were very flexible in providing a highly-tailored financing solution that was specific to our needs while limiting dilution. We look forward to a long-term partnership with BCP as our needs continue to evolve over time.”

About Zafin
Zafin is an award-winning provider of relationship banking software solutions to the financial services industry. As the market leader in relationship banking for Retail, Corporate, Wealth Management and Correspondent Banking, Zafin is transforming the way banks manage products, pricing, loyalty and billing across the entire client relationship. For more information, visit www.zafin.com.

About Beedie Capital Partners
Beedie Capital Partners (“BCP”) provides highly flexible growth financing solutions for small to mid-market companies across a wide variety of industry sectors. Managed by a small core team of decision makers, BCP is highly responsive, creative and flexible with terms, timing and transaction structure. BCP has been actively investing since its establishment in early 2011, with 11 portfolio investments (current and past) and over $55 million invested or committed since inception. BCP is fully funded by Beedie Development Group, British Columbia’s largest private industrial landlord and developer, established in 1954. Please also visit www.beediecapital.com and www.beediegroup.ca for further details.

For more information, please contact either:

Randy Garg
Managing Partner
randy.garg@beediecapital.com

Justin Cha
Associate
justin.cha@beediecapital.com

Photo courtesy of Shutterstock.