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Montfort Capital Sells TIMIA Group to Round13

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Release | Oct 22, 2024

Montfort Capital Sells TIMIA Group to Round13

Montfort Capital Sells TIMIA Group to Round13 Image: Freepik/rawpixel.com

Montfort Capital Sells TIMIA Group to Round13 Capital for $6.5 Million

Montfort Capital Corp. is selling its TIMIA Group business to Round13 Capital for $6.5 million CAD. This move lets Montfort focus on its core lending activities while TIMIA joins Round13’s investment portfolio.  TIMIA is known for offering loans to tech companies in North America that have stable, recurring revenues.

See:  Blockchain Private Credit Grew 55% in 2023

The purchase price is $4.5 million CAD in cash + $2 million CAD to pay off TIMIA’s debt to Pivot Financial, a Montfort affiliate.  The sale is expected to close by the end of the month October.

Ken Thomson, Montfort’s CEO:

“We’re excited about this transition. TIMIA will thrive as part of Round13, while we remain focused on our other lending businesses.”

Montfort Capital’s other lending divisions including Brightpath Capital (alternative mortgage solutions), Langhaus Financial (loans backed by insurance policies for high net worth clients), Nuvo Financial (specializing in loans for smaller investment funds), and Pivot Financial (asset backed loans for mid sized firms). By selling TIMIA, Montfort can potentially free up resources and capital to strengthen its other business lines.

See:  Round13 Digital Asset Fund Posts Over 40% Gains

Brahm Klar, Round13’s Managing Partner:

“This acquisition allows us to offer more financing options to Canadian entrepreneurs, complementing our existing equity investments.”

Conclusion

TIMIA joining Round13 Capital may signal that it might benefit from a new owner who is heavily focused on tech investments. Being a member of Round13’s portfolio may give TIMIA with more focused support and access to extra resources or expertise that are more aligned with its lending emphasis on technology firms.


NCFA Jan 2018 resize - Montfort Capital Sells TIMIA Group to Round13NCFA Jan 2018 resize - Montfort Capital Sells TIMIA Group to Round13The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

 

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