FOR IMMEDIATE RELEASE: November 6th, 2017
VANCOUVER, BC – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) is pleased to announce its most recent investment into Rise People Inc. The financing facility is $2 Million total, with a first disbursement of $1.5M and a further $500,000 to be disbursed upon certain milestones being met in the next 12 months.
Rise People Inc. is one of the fastest growing 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 – a $13.8B market (The Group Universe Report 2016, Fraser Group). The primary use of funds with this financing is to accelerate the growth of both revenue streams.
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. “We look forward to further growing our portfolio.”
About TIMIA Capital Corporation
TIMIA Capital Corporation 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. The alternative financing option complements both debt and equity financing, while allowing entrepreneurs to retain a greater share 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, compliance and workouts. For more information about TIMIA Capital Corporation, please visit www.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. 2
For more information, please contact:
Chief Executive Officer
TIMIA Capital Corporation
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any obligation to update the forward-looking statements except as required by law.