VANCOUVER, BC / ACCESSWIRE / December 14, 2017 / TIMIA Capital Corporation ("TIMIA" or the "Company") (TSX-V: TCA) is pleased to announce its newest investment into Wagepoint Inc. This is TIMIA's 3rd new investment in the past two months.
Wagepoint's payroll automation solution helps over 4,000 small businesses across Canada and the United States pay their employees - all with one easy cloud-based format. Wagepoint has recently launched a partnership with Intuit Canada where an Intuit-branded version of Wagepoint is now embedded inside Quickbooks Online. For more information on how Wagepoint makes payroll simple, fast, and friendly, visit www.wagepoint.com.
The financing facility is $2.0 Million total, with a first disbursement of $750,000 and a further $1,250,000 to be disbursed upon certain milestones being met over the next 24 months.
TIMIA has completed 4 new deals in 2017, with 3 of these deals closing in the last 2 months. This most recent investment brings the total number of active investments in the TIMIA portfolio to 7 and the disbursed $ value of active investments to $7.8 Million.
"Wagepoint is an exciting addition to the TIMIA portfolio," commented Mike Walkinshaw, CEO of TIMIA. "We look forward to working with them as they grow their business."
About TIMIA Capital Corporation
TIMIA Capital Corporation is a specialty finance company that provides revenue financing to technology companies in exchange for payments tied to revenue and bonus payments upon exiting the investments. The alternative financing option complements both debt and equity financing while allowing entrepreneurs to retain a greater share of their business. TIMIA's target market is the fast-growing business-to-business software-as-a-service (SaaS) segment. TIMIA is managed by a seasoned investment team with a track record of originating and managing debt and equity investments, as well as monitoring, compliance, and workouts. For more information about TIMIA Capital Corporation, please visit www.timiacapital.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
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Chief Executive Officer
TIMIA Capital Corporation
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any obligation to update the forward-looking statement.
SOURCE: TIMIA Capital Corporation