TIMIA Capital Corporation (CVE:TCA) (OTCMKTS:TIMCF) announced Wednesday that it had completed two investments totaling US$4 million.
The Vancouver-based company provides growth capital to technology companies in exchange for payments based on monthly revenue.
The new financing comprises transactions with initial disbursements of US$750,000 and US$500,00, which have already been deployed. A further US$2.75 million will be dispersed once certain milestones are met over the remaining agreement terms.
"Our investment pace reflects the recent efforts we have made to optimize our technology and funding platform," said Greg Smith, CIO of TIMIA. "Our hard work is paying off, and we're increasingly able to respond and deploy funds to high growth companies who benefit from quick access to non-dilutive capital."
TIMIA’s singular focus is investing in the Software-as-a-Service, or SaaS, industry. No details were provided on the names of the two new companies financed under the above transaction.
The investment firm expects to make further investments in the coming months, it said in a statement, as a function of its business model to earn a combination of monthly payments and periodic gains on investments.
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