Business
TIMIA Expands Investment Portfolio with US$3M Finance Facility for US Software Company
TIMIA Expands Investment Portfolio with US$3M Finance Facility for US Software Company ...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\n\nTIMIA Expands Investment Portfolio with US$3M Finance Facility for US Software Company\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, Oct. 15, 2019\n\n\n\n~New finance facility helps growing software company expand their product platform while resulting payments increase TIMIA's revenue~\n 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.\n\"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.\"\nTIMIA 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. \nThrough 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.\nAbout TIMIA Capital CorporationTI...