TIMIA Capital invests $2M in Parkbench

TIMIA Capital Corporation (TSX-V: TCA) has provided a $2 million facility for Toronto based Parkbench Inc., a provider of prospecting tool for real estate agents and mortgage brokers.

The revenue-based financing facility includes a first disbursement of $1,000,000 and a further $1,000,000 to be disbursed upon certain milestones being met over the term of the agreement.

TIMIA has invested in three new deals and successfully exited three previous investments in the last four months.

With six current investments under management, TIMIA has $10.4 million committed and is continuously seeking new and exciting investments in the software as a service or SaaS industry.

photo credit: Parkbench

News Release

TIMIA Capital Announces $2 Million Investment into Parkbench Inc.

~Investment provides growth capital for Parkbench and drives cash flow and income for TIMIA~

VANCOUVER, BC – March 8, 2018 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced a $2 million investment facility for Parkbench Inc., of Toronto. The revenue-based financing facility includes a first disbursement of $1,000,000 and a further $1,000,000 to be disbursed upon certain milestones being met over the term of the agreement.

“Parkbench is driving more than 50% revenue growth on their topline, and in the right position to benefit from our revenue finance model,” said Mike Walkinshaw, CEO of TIMIA. “We have an extensive analytics platform and management process to evaluate potential investments, and Parkbench emerged as an exciting company with growth potential in which we’re happy to invest.”

TIMIA has invested in three new deals and successfully exited three previous investments in the last four months. With six current investments under management, TIMIA has $10.4 million committed and is continuously seeking new and exciting investments in the software as a service or SaaS industry.

“We evaluated a number of finance options and TIMIA’s revenue-based finance model makes the most sense,” said Grant Findlay-Shirras, CEO of ParkBench. “We maintain control of the Company versus traditional equity-based lenders and the capital infusion will help us grow our business.”

About ParkBench

Parkbench is a prospecting tool for real estate agents and mortgage brokers. At the most basic level Parkbench produces a neighborhood focused website that provides local information, serving much the same function as the small-town newspaper used to. Parkbench rents these website properties to local service providers, mainly real-estate agents who become the “sponsors”. The sponsors populate the site with content: events, interviews with local businesses owners etc. The sponsors develop prospects through the process of generating content. The theory being that people move on average every 15 years. If the sponsor generates 15 free “advertorials” for local business owners one of them will be thinking about moving. Parkbench presents that opportunity to build a relationship with the potential client.

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.