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TIMIA Capital backs US$3M investment facility for Connecticut-based software company

The facility includes an initial disbursement of US$1.4 million and a further US$1.6 million to be disbursed upon certain milestones being met

TIMIA Capital Corp. - TIMIA Capital Corporation of Vancouver enters into a US$3 million investment facility for a Connecticut-based software company
The Vancouver-based investment company continuously seeks new and exciting investments in the software as a service, or SaaS industry

TIMIA Capital Corporation (CVE:TCA) (OTCMKTS:TIMCF) announced Tuesday 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$1.4 million, which has been advanced, and a further US$1.6 million to be disbursed upon certain milestones being met over the term of the agreement, according to a statement.

For competitive reasons, the name of the software company has not been disclosed at this time, TIMIA said. 

READ: TIMIA Capital expands limited partnership to C$20M, making additional funding available for SaaS investments

"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, the Vancouver-based investment company continuously seeks new and exciting investments in the software as a service, or SaaS industry. 

Under TIMIA's revenue-based financing model, the company 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. 

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Price: 0.19 CAD

TSX-V:TCA
Market: TSX-V
Market Cap: $7.5 m
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