Fonds de solidarité FTQ is investing C$20 million in Briva Finance. Based in Montreal, Briva Finance is a provider of short-term or interim financing to small businesses.
MONTRÉAL, Feb. 5, 2020 /CNW Telbec/ – Following a career spanning more than 25 years working for financial institutions and private equity funds where he developed expertise in business financing and development, Jacques Marchand launched BRIVA FINANCE in 2018. Based in Montréal, the company offers short-term or interim financing. BRIVA’s clientele mostly consists of SMEs with revenues of more than $10 million dollars, in all economic sectors.
To support the growth of BRIVA and enhance the financing offer to SMEs, the Fonds de solidarité FTQ is investing $20 million in the company.
“Founded in 2018, BRIVA is booming thanks to the experience and expertise of its team and the growing demand of entrepreneurs for private, alternative financing,” said Janie Béïque, Executive Vice-President, Investments, at the Fonds de solidarité FTQ. This new investment by the Fonds will allow BRIVA to better meet SME needs for short-term financing of their projects.”
For his part, Jacques Marchand, founding President of BRIVA FINANCE, added, “Business leaders need lenders that can help them in temporary and time-sensitive situations. One of the most important elements in the life cycle of a business is having access to financing at the right moment. We offer businesses in need of short-term additional support with financing adapted to such temporary situations.”
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $16.7 billion in net assets as at November 30, 2019, the Fonds has helped create and protect more than 215,000 jobs. The Fonds has over 3,100 partner companies and more than 700,000 shareholders-savers.