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TIMIA Capital
TIMIA Capital provides revenue-based financing to B2B SaaS companies, deploying over C$400 million from Vancouver since 2015.
TIMIA Capital
TIMIA Capital launched in 2015 in Vancouver, founded by technology operators Mike Walkinshaw and Greg Smith. Walkinshaw, a former software founder, and Smith, an experienced CFO, structured the firm to offer an alternative to both bank debt and venture equity for B2B software companies with predictable subscription revenue. The firm operates as a specialty finance company rather than a family office or traditional venture fund. The firm specializes in revenue-based financing — providing loans of C$2 million to C$10 million to enterprise software, FinTech, and digital health companies, with repayment tied to monthly revenue. TIMIA's portfolio spans North America, with disclosed investments in companies such as 1Password, Unbounce, and Function Point. The firm typically targets businesses with C$5 million to C$25 million in annual recurring revenue, offering capital for growth without board seats or equity dilution. The structure gives TIMIA regular repayments while maintaining upside through warrants or equity kickers in select deals. TIMIA has evolved its funding model over time — initially raising capital deal-by-deal, later launching a credit fund backed by institutional investors, and in 2023 merging with Purpose Unlimited to form Purpose Credit, a broader private credit platform. Community Investment Management, a US-based impact investor, has been a recurring capital partner. Walkinshaw and Smith continue to lead the combined entity's technology lending strategy from Vancouver. The platform structure allows TIMIA to recycle capital rapidly — typical loan terms run 3 to 5 years with monthly repayments — creating a different liquidity profile than closed-end venture funds. What distinguishes TIMIA structurally is its blend of credit underwriting and venture-style sector focus. Unlike generalist private credit managers, TIMIA only finances recurring-revenue software companies — a narrow mandate that builds domain expertise across underwriting, portfolio monitoring, and founder relationships. The vehicle's public listing on the TSX Venture Exchange (as TIMIA Capital Corp.) until the Purpose Unlimited acquisition added a layer of reporting transparency uncommon among private credit managers. The firm's enduring structural insight is that B2B SaaS founders will pay a premium for non-dilutive capital when they understand their own unit economics — a posture that sidesteps the valuation risk that defines equity venture investing.
General information
Firm type
Asset Manager
Year founded
2015
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Vancouver
Corporate office
Vancouver, BC, Canada
Principals
Mike Walkinshaw
Chief Executive Officer
Greg Smith
Chief Financial Officer
Sector focus
Frequently asked questions
How does TIMIA Capital's revenue-based financing model actually work?
TIMIA provides loans typically between C$2 million and C$10 million to B2B SaaS companies with predictable recurring revenue. Repayment is structured as a fixed percentage of monthly revenue — usually 2% to 8% — rather than fixed monthly payments. The loan is repaid over 3 to 5 years, with a total repayment cap (often 1.3x to 1.6x the original principal) that defines the return ceiling. TIMIA may also receive warrants or equity participation in select transactions, though the core product is structured as debt.
What kind of companies does TIMIA Capital typically finance?
TIMIA targets established B2B software companies with C$5 million to C$25 million in annual recurring revenue and low churn rates. The firm focuses on enterprise software, FinTech, and digital health sectors. Companies must have predictable subscription or recurring-revenue models — TIMIA does not finance pre-revenue startups, hardware companies, or businesses with project-based revenue. Disclosed portfolio companies include 1Password, Unbounce, and Function Point.
How is TIMIA Capital different from a traditional venture capital firm?
TIMIA offers non-dilutive debt financing, meaning founders retain full equity ownership — no board seats, no ownership dilution. Unlike a venture capital fund, TIMIA does not take equity as its primary instrument and does not rely on portfolio company exits for returns. The firm earns returns through interest payments and repayment premiums on its loans, creating a more predictable cash-flow profile. This makes TIMIA closer to a specialty finance company than a venture investor, though its sector focus overlaps with venture-stage software.
Who founded TIMIA Capital and what is their background?
Mike Walkinshaw and Greg Smith co-founded TIMIA Capital in 2015. Walkinshaw previously founded and operated a software company, giving him first-hand understanding of the financing challenges B2B SaaS founders face. Smith brought CFO-level financial structuring experience. Both continue to lead the firm's technology lending strategy from Vancouver following TIMIA's combination with Purpose Unlimited in 2023.
What happened to TIMIA Capital after its public listing?
TIMIA Capital Corp. was publicly listed on the TSX Venture Exchange until 2023, when it merged with Purpose Unlimited to form Purpose Credit. The combination created a broader private credit platform while preserving TIMIA's technology lending strategy. Purpose Unlimited, a Canadian financial services company with over C$20 billion in assets under management, provides institutional infrastructure and expanded capital access for the combined credit operation.
Does TIMIA Capital manage third-party capital or just its own balance sheet?
TIMIA has managed both its own balance sheet capital and funds from institutional partners. Community Investment Management, a US-based impact investor focused on marketplace lending and fintech credit, has been a recurring capital provider. Following the Purpose Unlimited merger, TIMIA operates within a larger asset management platform that can allocate both proprietary and third-party institutional capital.
What is TIMIA Capital's geographic and investment scope?
TIMIA focuses primarily on North American B2B SaaS companies, with investments across Canada and the United States. The firm operates from its headquarters in Vancouver, British Columbia. While most disclosed portfolio companies are North American, the revenue-based financing structure is well-suited to capital-efficient software businesses regardless of location — provided the legal and tax environment supports cross-border lending structures.
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