TIMIA Capital’s “frictionless SaaS financing” promises to allow entrepreneurs to grow their business without giving up control.
Founder-friendly capital is becoming more common and popular thanks to creative specialty finance companies and, more recently, media darlings like Toronto’s Clearbanc who are offering non-dilutive, revenue-share agreements to fund startup growth.
TIMIA is an early pioneer of the growth capital concept and today they shared a successful case study of their model with the announcement that their $2 million financing for Vancouver’s BasicGov Systems has been paid out.
According to today’s new release, over the last 9 months BasicGov has paid TIMIA $2.8 million in a combination of return of principal, interest and early redemption payments. The buyout of this financing will generate a $400,000 gain for TIMIA.
“Over the past 5 years we’ve designed and developed a scalable fintech platform to identify and invest in exciting and growing software companies like BasicGov,” said Mike Walkinshaw , CEO of TIMIA.
“We’re very happy to see our investee companies be successful, attract additional capital allowing them to graduate to the next stage of their growth, and that our non-dilutive financing has played a part in this success. We wish the BasicGov team every success as we turn our attention to reinvesting this capital into new and exciting companies.”