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TIMIA Capital Announces $2 Million Investment into Vancouver-based Startup Company Rise People Inc. (formerly Paysavvy)
Tuesday, November 14, 2017Company Profile | Follow Company
Vancouver, BC, November 14, 2017--(T-Net)--TIMIA Capital Corporation (TCA.V) announced today another investment into Rise People Inc. (formerly Paysavvy), a Vancouver-based startup company and developer of a all-in-one HR platform.
The financing facility is $2 Million total, with the first disbursement of $1.5 million, 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.
The company is led by Chief Executive Officer, Faiz Abdulla (pictured above).
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).
“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 Rise People Inc.
Headquartered in Vancouver, B.C., Rise unifies HR, benefits and payroll into a simplified, personalized, all-in-one People Platform. We've learned a lot by working with the leaders of forward-thinking companies. It's clear that the way we work is changing at an incredible pace, as more and more fast-growing companies embrace technology as a tool to empower people, leverage data, and replace outdated processes. Cue Rise. We're changing the way companies perform HR functions and making it easy to build an incredible company culture.
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) accept responsibility for the adequacy or accuracy of this news release.
Contact:
Mike Walkinshaw
Chief Executive Officer
TIMIA Capital Corporation
(604) 398-8839
IR@timiacapital.com
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