Press release from CNW Group
Wellington Financial Provides $8 Million Debt Facility to Elastic Path Software Inc.
Friday, June 14, 2013
Wellington Financial Provides $8 Million Debt Facility to Elastic Path Software Inc.09:49 EDT Friday, June 14, 2013
VANCOUVER AND TORONTO, June 14, 2013 /CNW/ - Wellington Financial LP, a privately-held specialty finance firm, today announced an $8 million debt facility for Elastic Path Software of Vancouver, BC. Elastic Path provides commerce software that enables businesses to monetize their goods, services and digital content across every customer touchpoint, including websites, mobile apps, smart devices, and APIs.
"Elastic Path's success has been recognized on the PROFIT 100 list of Canada's Fastest-Growing Companies for four consecutive years. With impressive customers such as Google, Pearson, Symantec, and Virgin Media, Elastic Path has developed an advanced platform that is helping hundreds of enterprises worldwide. We are proud to continue to back many of Canada's best innovation companies," said Mark McQueen, President and CEO of Wellington Financial.
Harry Chemko, CEO of Elastic Path said, "As digital commerce moves quickly beyond websites and mobile apps into a new era of APIs and smart devices, there is tremendous demand for technology that will help businesses keep pace. With the support of Wellington Financial, we can now accelerate our innovation as we develop the software platform for this next generation of commerce. We look forward to working with them."
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $600 million investment program with offices in San Francisco, Santa Monica and Toronto. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
About Elastic Path
Elastic Path builds commerce software that powers the next generation of digital experiences, helping businesses generate more revenue from goods, services and digital content. Our software products, including Commerce Engine, Cortex, and Subscriptions, allow companies to unite discovery, buying, and consumption to create outstanding customer experiences with higher rates of engagement and conversion. Our exclusive technology brings these capabilities to websites, mobile apps, APIs, and smart devices, while generating one view of the customer. Elastic Path is used by market-leading enterprises, including Google, Pearson, Symantec, Time, Virgin, and Western Union, and drives billions of dollars in digital commerce revenue annually.
SOURCE: Wellington Financial LP
For further information:
Wellington Financial LP
Tel: (416) 682-6007