Daily News: November 29, 2019

Turnham Green Provides $7.5MM Facility for TIMIA Capital


TIMIA Capital, a specialty finance company, has entered into a $7.5 million credit facility with Turnham Green Investments of Vancouver.

The one-year term includes an additional three month extension and supports TIMIA’s future investments into growing SaaS companies in North America with the expectation that 50% of funding for such new investments will be funded from the credit facility and the remaining 50% will be funded from TIMIA’s balance sheet.

This new facility and its advance rate, combined with capital from TIMIA’s own balance sheet, provides for new capacity of up to $15 million in financing for growing software companies.

“This credit facility provides the non-dilutive flexibility to cost effectively build our investment portfolio,” said Mike Walkinshaw, CEO of TIMIA. “With the addition of this lower-cost capital, we can accumulate and warehouse additional investments and look for other non-dilutive opportunities, such as limited partnerships, to continuously maximize the credit facility.”

TIMIA has developed a proprietary, scalable, technology-driven fintech platform targeting higher risk-adjusted returns on its finance solutions, creating value for shareholders, and leveraging its non-dilutive capital structure.

TIMIA Capital is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue.