TIMIA Capital invests $2 mln in online payroll app Wagepoint
Canadian specialty finance firm TIMIA Capital Corp has provided a $2 million funding facility to Wagepoint Inc, a Kitchener, Ontario-based provider of online payroll automation solutions. A first disbursement of $750,000 will be followed by a further $1.25 million linked to the meeting of certain milestones over the next 24 months. Founded in 2012, Wagepoint serves more than 4,000 small businesses across Canada and the United States. TIMIA's revenue financing, the third in the past two months, follows Wagepoint's $2 million seed investment in 2014. That round was led by Extreme Venture Partners and joined by Business Development Bank of Canada and other investors.
14 December 2017•2 mins read
