TIMIA Capital Increases Investment in Wagepoint
~Strong performance at Wagepoint drives further investment in payroll automation company~
VANCOUVER, BC – August 16, 2018 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced a further $750,000 investment in Wagepoint Inc. (“Wagepoint”) of Waterloo, ON. The $750,000 investment is part of the software Company’s existing $2 million revenue financing facility with TIMIA, and the second disbursement based on strong performance and related metrics by Wagepoint.
“Wagepoint is driving growth and delivering on strong customer metrics,” said Mike Walkinshaw, CEO of TIMIA. “We’re happy to support the team at Wagepoint with the right capital solution and to foster further growth and expansion.”
“TIMIA has been an incredible partner for Wagepoint,” said Shrad Rao, CEO of Wagepoint Inc. “Their involvement has given us the opportunity to do what is right for our business in terms of investing in areas that make the customer experience better and driving exponential growth We made the decision to go with a revenue-financing solution last year and we haven’t looked back since.”
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.
Wagepoint helps 4,000 small business across Canada and the United States pay 30,000 employees — all with one easy, cloud-based format featuring an interface purposefully designed to pass the “my-grandma-could-use-it” sniff test. For more information on how Wagepoint makes payroll simple, fast and friendly, visit www.wagepoint.com
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
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