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TIMIA Capital invests US$2 million into data management application company Metazoa

Metazoa, creators of the data management application Snapshot, will receive an initial advancement of US$600,000 and a further US$1.4 million upon certain milestones being met throughout the term of the agreement
computer
Metazoa developed Snapshot, an application for org cleanup, reporting, auditing, comparison and lifecycle mgmt

TIMIA Capital Corporation (CVE:TCA) (OTCMKTS:TIMCF) announced Friday that it had entered into a US$2 million investment facility for software company Metazoa Inc.

Metazoa, creators of data management application Snapshot, will receive an initial advancement of US$600,000 and a further US$1.4 million upon certain milestones being met throughout the term of the agreement.

"We've increased our pace of investment, penning three transactions in the last two weeks," said Greg Smith, CIO of TIMIA. "We look for great companies, like Metazoa, who continue to grow their business and see the benefit of non-dilutive capital as a funding mechanism for this growth."

READ: TIMIA Capital to invest $3 million in U.S-based software company TransitScreen

Metazoa has been growing thanks to the market demand for Salesforce and other organizational management solutions, according to Jennifer Mercer, Metazoa’s CEO. "We were seeking non-dilutive investment options to help fuel our growth and TIMIA's revenue financing approach was the perfect fit for us,” she said in a statement.

Under TIMIA's revenue-based financing model, the company advances capital to a SaaS business with a recurring revenue stream to allow the portfolio company to make monthly payments that are a combination of principal and interest.

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

The Vancouver-based company expects to make further investments in the coming months, it said in a statement, as a function of its business model to earn a combination of monthly payments and periodic gains on investments.

Shares of TIMIA were most recently trading at C$0.23 in Toronto and at US$0.18 on OTC markets.

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