TIMIA Capital Corp (CVE:TCA) (OTCMKTS:TIMCF) revealed that its previously announced US$1 million financing for tech group Real Savvy Inc has been paid out - generating a 20% return to Timia in ten months.
TIMIA Capital is a specialty finance company, which provides growth capital to tech firms in exchange for payments based on monthly revenue.
Over the last 10 months, Real Savvy has paid TIMIA US$1.2 million on a combination of return of principal, interest and early redemption payments, the firm said in a statement Wednesday.
"Generating this type of return, in such a short period of time, is a great outcome for TIMIA," noted Mike Walkinshaw, the group's CEO..
"At the same time, our capital was critical in helping Real Savvy achieve key targets over the past 10 months."
In October last year, Timia announced a US$2.5 million financing facility for Real Savvy including an initial disbursement of US$1 million. No further disbursements were made and the initial disbursement has been re-paid.
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