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TIMIA Announces US$2 Million Financing for Metazoa
~Financing for California-Based Software Company Becomes Third Transaction in Two Weeks for ...
About this update from Montfort Capital Corp
[{"type":"text","content":"TIMIA Announces US$2 Million Financing for Metazoa~Financing for California-Based Software Company Becomes Third Transaction in Two Weeks for TIMIA~VANCOUVER, BC / ACCESSWIRE / May 10, 2019 / TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSX-V:TCA/OTC: TIMCF) announced that it has entered into a US$2 million investment facility for Los Gatos, California, based software company Metazoa, Inc. (\"Metazoa\"). The financing facility includes an initial disbursement of US$600,000 which has been advanced, and a further US$1,400,000 to be disbursed upon certain milestones being met over the term of the agreement.\"We've increased our pace of investment, penning three transactions in the last two weeks,\" said Greg Smith, CIO of TIMIA. \"We look for great companies, like Metazoa, who continue to grow their business and see the benefit of non-dilutive capital as a funding mechanism for this growth.\"\"Metazoa has been growing due to the clear market need for Salesforce release and Org management solutions,\" said Jennifer Mercer, CEO at Metazoa. \"We were seeking non-dilutive investment options to help fuel our growth and TIMIA's revenue financing approach was the perfect fit for us. The team was a pleasure to work with and the deal was done within weeks.\" See Mike Walkinshaw, CEO of TIMIA, discuss the Metazoa Transaction through a Proactive Investors interview with Steve Darling: https://youtu.be/WqwdYCFBVAU TIMIA is continuously seeking 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 MetazoaLocated in California, Metazoa is dedicated to building, marketing, supporting, and selling Snapshot, the world's finest Change and Release Management application for Salesforce. Metazoa was founded in 2018 by key members of DreamFactory Software. T...