TIMIA Capital Corporation (TSX-V: TCA) has provided a $2 million investment facility for Vonigo Software Ltd. The financing facility includes an initial disbursement of $700,000 and a further $1,300,000 to be disbursed upon certain milestones being met over the term of the agreement.
Founded by John Carter and Roman Azbel in 2011, Vancouver based Vonigo is an online business management platform that helps streamline operations and increase sales of mobile service companies.
Vonigo offers a unified suite of configurable modules including; CRM, scheduling, online booking, work order management, estimating, dispatch, routing, GPS, invoicing, payments, reporting, and more, all accessible over the Internet from any desktop or mobile device.
photo credit: Vonigo Software
News Release
TIMIA Capital Expands Investment Portfolio with $2 Million Financing for Vonigo Software
~Investment provides key growth capital for Vancouver software company~
VANCOUVER, BC – May 10, 2018 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced a $2 million investment facility for Vonigo Software Ltd (“Vonigo”) of Vancouver, BC. The financing facility includes an initial disbursement of $700,000 and a further $1,300,000 to be disbursed upon certain milestones being met over the term of the agreement.
“This capital infusion supports Vonigo’s growth plans while expanding TIMIA’s portfolio of investments and related revenue,” said Greg Smith, CIO of TIMIA. “Our unique revenue-based financing solution allows the entrepreneur to maintain control over their company and destiny while providing the right capital at the right time to grow.”
TIMIA is continuously seeking new and exciting investments in the software as a service or SaaS industry. 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 Vonigo
Vonigo is an online business management platform that helps streamline operations and increase sales of mobile service companies. Vonigo offers a unified suite of configurable modules including; CRM, scheduling, online booking, work order management, estimating, dispatch, routing, GPS, invoicing, payments, reporting, and more, all accessible over the Internet from any desktop or mobile device. Millions of jobs have been successfully booked and managed with Vonigo.
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
Mike Walkinshaw, CEO
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