CPE News – pcJournal (10/23/2018) – TIMIA Capital Corporation (TSX-V:TCA) has entered into a $1 million investment facility for Aprio Inc. The financing facility includes an initial disbursement of $400,000, which has been advanced, and a further $600,000 to be disbursed upon certain milestones being met over the term of the agreement.
Vancouver based Aprio makes good governance simple and affordable. The Aprio board portal helps organizations large and small to efficiently run board meetings, keep directors up to date, and keep information secure.
photo credit: Aprio
TIMIA Capital Increases Portfolio with Third Investment in Thirteen days
~$1 Million Financing Facility for Aprio Helps Drive Vancouver Software Company Growth Efforts~
VANCOUVER, BC – October 23, 2018 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced that it has entered into a $1 million investment facility for Aprio Inc. (“Aprio”) of Vancouver, BC. The financing facility includes an initial disbursement of $400,000, which has been advanced, and a further $600,000 to be disbursed upon certain milestones being met over the term of the agreement.
“We’re excited to support Aprio’s increased sales and marketing efforts with new capital,” said Greg Smith, CIO of TIMIA. “Aprio has a great reputation, long track record of success and have been a great team to work with.”
“We appreciated TIMIA’s quick response and flexible approach to our financing needs,” said Ian Warner, President & CEO, Aprio Inc. “They understood our business and provided the capital we’re looking for, without the dilution of traditional equity-based funding.”
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 requires 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, triggering a bonus payment to TIMIA. 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 Aprio Inc.
Aprio makes good governance simple and affordable. The Aprio board portal helps organizations large and small to efficiently run board meetings, keep directors up to date, and keep information secure. Aprio provides premium features without premium pricing, all delivered with unmatched service. Our simplicity and affordability make us the first choice of credit unions, financial institutions, crown corporations, non-profits and public companies across North America. Founded in 2003, Aprio is proud of our reputation for the best customer experience in our industry. Visit www.aprio.net to learn more.
About TIMIA Capital Corporation
TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA’s singular focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $1 Million to $10 Million in Annual Recurring Revenue. For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
For more information, please contact:
Vice President, Capital Markets & Communications
Mike Walkinshaw, CEO
TIMIA Capital Corporation