Business
TIMIA Capital Expands Limited Partnership to $20 million and Secures $3 million of New Non-Dilutive Capital
TIMIA Capital Expands Limited Partnership to $20 million and Secures $3 million of New Non...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\nTIMIA Capital Expands Limited Partnership to $20 million and Secures $3 million of New Non-Dilutive Capital\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 18, 2019\n\n\n\n~TIMIA's fintech platform expands unveiling additional capital for North American SaaS companies~\n VANCOUVER, Sept. 18, 2019 /CNW/ - TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSX-V:TCA; OTCQB: TIMCF) today announced that it has received Limited Partner approval to expand its TIMIA Capital 1 Limited Partnership (\"LP1\"), originally announced March 11, 2019, from a limit of $12 million to a limit of $20 million. TIMIA is also announcing the receipt of approximately $3.5 million in new investor money into LP1 along with additional investor commitments of $300,000, subject to customary closing conditions, bringing the LP1's capital position to approximately $13 million out of a possible $20 million. This brings TIMIA's consolidated assets, including recent exits, to over $24 million.\n\"Our initial limited partnership has been performing well, including having one early exit from the portfolio leading to increased payouts to our Limited Partners. We have continued to see demand from more and more investors looking for good yield-based investments,\" said Mike Walkinshaw, CEO of TIMIA. \"We wanted to be able provide LP1 investors with a good return while funding our fintech platform for SaaS financing. This non-dilutive option made the most sense for TIMIA shareholders and provides an opportunity for new LP1 investors.\"\nTIMIA 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 Com...