TIMIA Capital Corporation (TSX-V: TCA) has made a $2 million investment in Rise People Inc. with $1.5 million disbursed at closing and a further $500,000 to be disbursed upon certain milestones being met in the next 12 months.
Vancouver based Rise People Inc. is a digital HR and group health insurance platforms in Canada – having grown its users from 15,000 to 30,000 employees in the last two years. In addition to serving growing Canadian businesses with its all-in-one HR, benefits, and payroll solutions, Rise is expanding to offer additional group and individual insurance online to micro-businesses and solo entrepreneurs.
This most recent investment brings the disbursed $ value of active investments in the TIMIA portfolio to $6.55 Million.
“TIMIA is very pleased to partner with Rise People Inc., an exciting and fast growing company in the HR benefits space,” commented Mike Walkinshaw, CEO of TIMIA Capital. “We look forward to further growing our portfolio.”
TIMIA Capital 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.
photo credit: Rise People Inc.