SaaS Capital said Thursday it provided a loan to inDinero. Financial terms weren’t announced. San Francisco-based inDinero provides accounting, tax and payroll services and software to startups and small businesses.
NEW YORK, April 30, 2015 – SaaS Capital, the largest provider of alternative financing for SaaS businesses, announced today that it has provided a line of credit to inDinero, the premiere all-in-one accounting and tax service for small business.
“inDinero is growing lightning fast and we wanted to throw fuel on the fire by raising additional capital. We didn’t want to raise a traditional VC round, and SaaS Capital gave us an awesome alternative” said Jessica Mah Founder and CEO of inDinero. “We are getting a good chunk of capital from them and we are excited about working with a team that understands SaaS businesses better than anyone else.”
Based in San Francisco, inDinero provides startups and small businesses with unlimited, flat-fee accounting, tax and payroll services backed by the most owner-friendly software in the industry. inDinero’s innovative services as a software approach allows growth companies to hold off on hiring accounting staff up to 100 employees or 8 figures of revenue. By outsourcing the entire back office to inDinero’s team of pros, small business owners can maintain laser focus on building out their core business functions and grow faster.
“Jessica and her team have built an innovative and impressive business, and we are pleased to serve a role in funding their continued growth” said Todd Gardner, Founder and Managing Director of SaaS Capital.
inDinero is the leading financial services as a software solution for small businesses to automate accounting, tax and payroll activities for a flat fee. inDinero has nearly 100 employees with offices in San Francisco, Portland, and Manila. For more information go to www.inDinero.com
About SaaS Capital
Originally founded in 2006, and launched as a dedicated fund in 2012, SaaS Capital is the pioneer provider of debt-based growth capital for SaaS companies. By leveraging the predictable revenue streams of the SaaS business model, SaaS Capital allows companies to use debt instead of equity to fund investments in sales, marketing, and new product development. SaaS Capital’s line of credit approach combines more availability and longer terms, with more flexible drawdown and repayment, versus other lenders in the market. Through its partnership with DH Capital, SaaS Capital can also assist with a variety of M&A and capital raising advisory services.