New Year, New TIMIA President
After a year of extraordinary change for TIMIA Capital, the team begins 2023 with the announcement of a new company president, Monique Morden. Founder and former CEO, Mike Walkinshaw, will now focus on his role as CEO of Montfort, TIMIA's new parent company.
2022 Recap: A Year of Change at TIMIA
2022 was a pivotal year for TIMIA. It saw the evolution of TIMIA Capital into Montfort. This evolution will allow TIMIA Capital to remain laser-focused on its primary goal: offering flexible debt solutions to capital-efficient B2B SaaS companies. The parent company, Montfort, will focus on growing a diversified group of private credit businesses, including TIMIA, and creating efficiencies across the group.
Rob Foxall, one of the original TIMIA team members, is starting a new venture with several other entrepreneurs who — with the help of TIMIA’s non-dilutive growth capital — built, scaled, and sold several other successful startups. Rob will remain on the TIMIA team in an advisory capacity.
We added several new team members to TIMIA in 2022 to grow essential functions like business intelligence, business development, marketing, and finance. TIMIA boasts a diverse team with members from Canada, the U.S., Uganda, India, Zimbabwe, Chile, and Ireland. For the first time, the team comprises over 60% women, with several women in key leadership roles, including our new president, Monique Morden.
Introducing Our New President
We officially welcomed Monique Morden to the TIMIA team in January. Monique is a seasoned entrepreneur, angel investor, and advisor to technology startups, particularly in the fintech space. She founded and served as CEO and CRO of JUDI.AI, a technology company that serves the SMB banking sector, and remains an advisor to the board.
In a recent press release published by Montfort, Monique said, “I am very impressed at the work of the talented team at TIMIA and their achievements over the past 8 years. We have an incredible opportunity to help founders grow in both good and challenging economic times. I look forward to working with this great team, building on their past successes, and creating new opportunities for TIMIA with recurring revenue technology businesses.”
Amid all the changes of the past 12 months, the TIMIA team operated the business as usual. In fact, it had another record-breaking year, deploying more than $35 million in capital across 23 deals in the U.S. and Canada.
Some of the exciting B2B SaaS startups we invested in include Noibu and Megadata. We also saw an increase in investments in promising tech-enabled services companies including Refine Labs, Fleet Hoster, and Pliancy. We look forward to seeing how they use their funds to grow their businesses over the coming months.
Looking Forward to the Year Ahead
In 2023, the TIMIA team will strive to add more exciting new businesses to our portfolio.
It will be an interesting year as we continue to deal with the challenging macroeconomic environment. However, as the venture capital and private equity taps remain dry, TIMIA’s debt solutions offer a valuable alternative to growing businesses.
Not only does debt provide much-needed growth capital for scaling sales and marketing teams, cleaning up cap tables, or acquiring new markets or intellectual property, but it also helps entrepreneurs retain equity and control of their businesses until valuations rebound.Back to top