TIMIA provides $2 mln in revenue funding to Rise People

TIMIA Capital Corp has provided a funding facility of $2 million to Rise People Inc, a digital human resources and group health insurance platform based in Vancouver. A disbursement of an initial $1.5 million, followed by a further $500,000, will be made upon the meeting of certain milestones in the next 12 months. Founded in 2011, Rise People’s user base has grown from 15,000 to 30,000 employees in the past two years. It is currently expanding to offer additional group and individual insurance online. TIMIA, a Canadian specialty finance firm, provides funding to technology companies in exchange for a royalty on revenue.


TIMIA Capital Announces $2 Million Investment into Rise People Inc.

VANCOUVER, BC / ACCESSWIRE / November 6, 2017 / TIMIA Capital Corporation (“TIMIA” or the “Company”) (TCA.V) is pleased to announce its most recent investment into Rise People Inc. The financing facility is $2 Million total, with the 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).

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) accept responsibility for the adequacy or accuracy of this news release.

For more information, please contact:

Mike Walkinshaw
Chief Executive Officer
TIMIA Capital Corporation
(604) 398-8839

Photo courtesy of Rise People Inc