Toronto’s Pivot is a private lender focused on creative financing solutions for the small and medium business market.
TIMIA has developed a proprietary, scalable, technology-driven fintech platform to originate investments and earn higher risk-adjusted returns.
The Pivot management team will join TIMIA with Ken Thomson, CEO of Pivot, taking on a senior leadership role as Chief Strategy Officer as well as joining the Board of Directors of TIMIA while Dan Flaro, President of Pivot, will continue in his role with respect to the Pivot business.
“TIMIA’s fintech-based loan origination and underwriting platform is complementary to the lending profile of Pivot Financial,” said Mike Walkinshaw, CEO of TIMIA.
“TIMIA and Pivot service two distinct markets seeking growth capital with little or no overlap. As a result, this combination provides synergies from which we can each continue to build our portfolios while mutually leveraging our technology platform to drive efficiency and profit.”
“Over the past 6 years, we have been successful at building our business by focusing on the borrowing needs of small to mid sized Canadian enterprises with up to 100 employees and $50 million in revenue,” said Ken Thomson, CEO of Pivot.
“Joining TIMIA Capital provides access to a more diverse capital pool, a combined larger portfolio of assets under management, and a proven technology-based loan origination and management platform. Moving forward we will leverage the strengths of each company with a goal of becoming a leading specialty lending company in North America.”
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