VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 14, 2016) - TIMIA Capital Corp. ("TIMIA" or the "Company") (TSX VENTURE:TCA) is pleased to announce the establishment of operations in Ontario with Andrew Abouchar joining TIMIA Capital as Executive Vice President Underwriting.
Abouchar's role is to grow and expand TIMIA's revenue financing business in Ontario and across Canada from his base in Waterloo, Ontario an anchor to the TorontoWaterloo innovation corridor.
"I am thrilled to be joining the experienced investment team at TIMIA Capital as it builds out Canada's technology ecosystem through its innovative revenue finance model," says Abouchar.
"TIMIA's fresh approach to funding SaaS companies is not only a huge global market opportunity, but also provides unprecedented alignment of interest between entrepreneurs and investors."
Abouchar has 20-plus years of experience in Canada's venture capital and private equity industry. He is a cofounder and partner in Tech Capital Partners Inc ("Tech Capital"), a ΓÇïWaterloo-based venture capital management company known for raising one of the largest pools of early stage institutional venture capital in Canada, attracting investors such as Ontario Municipal Employees Retirement System and the Business Development Bank of Canada. Tech Capital successes include early investments in global companies like Ecobee, Sandvine Corporation and Sidense Inc. Earlier in his career, Abouchar worked as an accountant at PwC.
"We are honoured to have a seasoned technology industry veteran like Andrew join our TIMIA Capital team," says TIMIA Capital CEO ΓÇïMike Walkinshaw. "Andrew's experience, insight and knowledge of Canada's tech sector will be invaluable as we continue to expand our revenue finance business, providing the potential for market leading returns for investors and flexible growth capital for entrepreneurs."
About TIMIA Capital Corp.
TIMIA Capital Corp. is a specialty finance company that provides revenue financing to technology companies in exchange for a royalty stream on revenue. The alternative financing option compliments both debt and equity financing, while allowing entrepreneurs to retain control of their business. TIMIA's target market is the fast-growing growing business-to-business software-as-a-service (SaaS) segment. TIMIA is run by a seasoned investment team with a track record of originating and managing debt and equity investments, as well as monitoring, compliance and workouts.
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Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any obligation to update the forward-looking statements except as required by law.