TIMIA Capital Corporation (TSX-V: TCA) has provided a $1.5 million investment facility for Paltech Solutions dba 7Geese Inc. The financing facility includes an initial disbursement of $1,000,000 and a further $500,000 to be disbursed upon certain milestones being met over the term of the agreement.
Vancouver based 7Geese is a performance management platform which helps companies achieve more through the use of OKR goal-tracking, facilitation of 1-on-1s and employee surveys.
photo credit: 7Geese
News Release
TIMIA Capital Announces $1.5 Million Investment into HR Performance Management Company, 7Geese Inc.
~Investment provides sales and marketing capital for 7Geese and expands TIMIA’s cash flow and income stream~
VANCOUVER, BC – May 1, 2018 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced a $1.5 million investment facility for Paltech Solutions dba 7Geese Inc. (“7Geese”), of Vancouver. The financing facility includes an initial disbursement of $1,000,000 and a further $500,000 to be disbursed upon certain milestones being met over the term of the agreement.
“7Geese is expanding their sales and marketing efforts and looking to maximize their current growth trajectory,” said Greg Smith, CIO of TIMIA. “7Geese is a premier HR performance management company and growing rapidly. By Leveraging TIMIA’s unique financing solution, which is based on revenue metrics versus traditional equity provisions, 7Geese gets the growth capital they need while maintaining their ownership position. Naturally, it does seem to fit that our 7th portfolio investment under management and tenth overall is a company called 7Geese.”
TIMIA is continuously seeking new and exciting investments in the software as a service or SaaS industry. As such, the Company expects to make further investments in the coming months combined with successful exits from investments that can provide one-time gains on the investment.
“We conducted our research and TIMIA’s financing solution makes the most sense,” said Amin Palzabin, CEO of 7Geese. “We maintain control of the Company versus traditional equity-based lenders and strengthen our balance sheet with the right growth capital.”
About 7Geese
7Geese is a performance management platform which helps companies achieve more through the use of OKR goal-tracking, facilitation of 1-on-1s and employee surveys. 7Geese delivers real-time data for managers and executives to make everyday decisions on employee performance and growth. Companies using 7Geese are able to customize the way they deliver and facilitate performance reviews using the technological convenience 7Geese provides with features including: OKR goal-tracking, feedback, 1-on-1s and employee recognition.
About TIMIA Capital Corporation
TIMIA Capital Corporation is a specialty finance company that provides revenue financing to technology companies in exchange for a stream of payments based on revenue. The alternative financing option complements both debt and equity financing, while allowing entrepreneurs to retain control 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 and compliance.
For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
For more information, please contact:
Darren Seed
Vice President, Capital Markets & Communications
TIMIA Capital Corporation
(604) 398-8839
IR@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) accepts responsibility for the adequacy or accuracy of this news release.