TIMIA has agreed to invest US$3 million in an unidentified Connecticut-based software company. The financing includes an initial disbursement of US$1,400,000 and a further US$1,600,000 to be disbursed upon certain milestones being met over the term of the agreement. Based in Vancouver, British Columbia, TIMIA is a specialty finance company.
VANCOUVER, Oct. 15, 2019 /CNW/ – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA/OTC: TIMCF) announced that it has entered into a US$3 million investment facility for a Connecticut-based software company. The financing facility includes an initial disbursement of US$1,400,000, which has been advanced, and a further US$1,600,000 to be disbursed upon certain milestones being met over the term of the agreement. For competitive reasons, the Company’s name has not been disclosed at this time.
“We’re providing growth capital to a great company looking to expand their product platform,” said Greg Smith, CIO of TIMIA. “By going with non-dilutive capital from TIMIA, they avoid the dilutive impact of equity financing and achieve their financing needs.”
TIMIA has developed a proprietary, scalable, technology-driven fintech platform targeting higher risk-adjusted returns on its finance solutions, creating value for shareholders, and leveraging its non-dilutive capital structure.
Through its fintech platform, TIMIA continuously seeks new and exciting investments in the software as a service or SaaS industry. Under TIMIA’s revenue-based financing model, TIMIA advances capital to a SaaS business with a recurring revenue stream that allows the portfolio company to make monthly payments to TIMIA that are a combination of principal and interest with a repayment schedule sculpted to the portfolio company’s revenue streams. The amounts advanced are secured and may be repaid early. The Company expects to make further investments in the coming months, in the pursuit of its business model, which is to earn a combination of monthly payments and periodic gains on investments.
About TIMIA Capital Corporation
TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA’s focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $1 Million to $10 Million in Annual Recurring Revenue. For more information about TIMIA Capital Corporation, please visit www.timiacapital.com