Daily News: June 3, 2013

Wellington Provides Growth Capital to Two Software Companies

Wellington Financial announced that it recently closed a $12 million venture debt financing for a California-based on-demand software company serving many global Fortune 1000 firms. The company’s existing investor base includes a number of prominent venture capital firms from the Silicon Valley area.

Wellington also recently closed a $3.5 million venture debt financing for an East Coast-based SaaS provider of global payroll management solutions. The company is currently backed by a well-known U.S.-based venture capital firm.

“With more than 25 U.S.-based, V.C.-backed financings over the past three years, CFOs and their venture capital backers from across the country are hearing about the tangible benefits of our unique non-amortizing growth capital. We are delighted to add two more SaaS companies to our Fund IV portfolio of high growth companies,” said Mark Usher, partner of Wellington Financial.

Wellington Financial is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million.