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Novus Capital Group Merges with Super G Capital

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Customized financing solutions to technology-focused Angel or VC sponsored companies in need of $250K to $5 million

Newport Beach, CA (March 23, 2017) – Novus Capital Group announced that it has merged with Super G Capital of Newport Beach, California. John Saefke, CEO of Novus Capital, will lead the venture debt and technology lending practice as a division of Super G Capital. Founded in 2013, Novus Capital has provided customized financing solutions to 70 emerging technology companies that are sponsored by Angel or Venture Capital investors. Super G Capital, which started in 2008, has loaned approximately $200 million through its four lending divisions. Super G Capital provides a robust platform of non-dilutive, flexible funding solutions for growth stage entrepreneurial companies.

“The combination of Novus Capital’s Venture Debt focus and Super G Capital’s 2nd lien lending will create unmatched structural flexibility to technology and emerging growth companies nationwide. In addition to more customized loan terms, Novus Capital can now provide a full spectrum of funding options from $250K up to $5 million per transaction, an increase from our previous limit of $1 million,” said John Saefke. “In addition, we can now offer both traditional Venture Debt with warrant coverage style deals as well as non-dilutive growth debt.”

“We started our SaaS Funding division last year to bring non-dilutive growth debt to the software and technology industry,” says Darrin Ginsberg, CEO of Super G Capital. “Super G Capital was looking to accelerate our technology lending when we met John Saefke and the Novus Capital team. Together we will expand our product offerings and better serve Angel and Venture-backed companies by providing more options.” Novus Capital now offers senior financing, subordinated financing and can utilize Super G Capital’s “First to Second” solution to grow with its clients from an early stage through traditional bank financing.

In addition to John and professionals located in Portland, OR, Novus is led by Dave Dolezal in Denver, CO and Jane Mason in Boston, MA. They will add coverage with Super G Capital professionals in Southern CA, Northern CA and Dallas, TX.

About Super G Capital

Super G Capital is an alternative lender specializing in residual and cash flow loans. Super G Capitals’s mission is to fill the credit void in the lower middle market by providing non-dilutive, senior and subordinated debt solutions to businesses in need of financing for working capital, growth capital, acquisition capital, or special situation financing. Super G Capital is a pioneer and market leader in residual and commission-based loans to a variety of industries such as Merchant Services ISOs, ATM ISOs, Insurance Agents and Brokers, and Independent Software Vendors (ISVs).
Super G Capital lends up to $5 million per transaction in the form of fully-amortizing cash flow loans with flexible terms of 6 to 36 months. Super G Capital has a small, nimble team, which is highly responsive and can close deals rapidly. Visit www.supergcapital.com to learn more.

About Novus Capital Group

Novus Capital Group offers customized, creative financing solutions for emerging growth technology companies seeking to preserve equity and maximize their current cash positions during periods of growth. Novus Capital’s team of seasoned financial professionals partner with fast-growing companies to create specialized debt solutions that allow them to attain their goals and attract potential equity sponsors. Through flexibility, creativity, and ingenuity, Novus Capital works quickly and with precision to help emerging growth technology companies achieve long-term success. Visit www.novuscapitalgroup.com to learn more.

Contact:
Novus Capital Group
John Saefke
CEO, Novus Capital Group
4500 Kruse Way, Suite 170 Lake Oswego, OR 97035
Ph: (503) 303-5111
John@novuscapitalgroup.com

SaaS Funding Portfolio Company Zen Planner Acquired by Strategic Investor

By | 2nd Lien Financing, Closes Acquisition Financing, Growth Capital, SaaS Funding | No Comments

Link to press release: http://www.prnewswire.com/news-releases/daxko-acquires-zen-planner-to-become-preeminent-software-provider-in-member-based-health–wellness-industry-300426349.html

Daxko Acquires Zen Planner to Become Preeminent Software Provider in Member-based Health & Wellness Industry

BIRMINGHAM, Ala., March 20, 2017 /PRNewswire/ — Daxko announced today it has acquired Zen Planner, a Denver-based provider of member management software, payments, and integrated websites to over 5,500 gyms, martial arts schools, and fitness studios. This acquisition represents a meaningful and logical expansion for Daxko in serving the industry with a shared vision for delivering innovative solutions and providing exceptional experiences to customers and team members alike.

This combination creates the only software company capable of serving every segment of the member-based health & wellness market, as Daxko is already the leading provider of enterprise software to large member-based health & wellness organizations, including YMCAs, JCCs, health & fitness clubs, wellness centers, and campus recreation centers. Daxko now has global reach spanning 58 countries, nearly 7,000 customers, and tens of millions of members.

“For over 15 years, Daxko has maintained relentless focus on serving this industry,” says Daxko’s CEO, Dave Gray. “We’re excited to add Zen Planner to the Daxko family, which sharpens that focus even further.”

“Zen Planner has an amazing team of people who are committed to the success of our small business customers.  I’m confident that this transaction will enable us to accelerate development of tools and resources for our customers,” says Jeff Gardner, CEO of Zen Planner. “Not only are we aligned in our vision to make communities healthier and happier, but we share the belief that a strong company culture is a key ingredient for success.”

“We have been extremely impressed with Jeff and his entire team. It’s rare to find a company with such a similar view on culture, people, and customers,” adds Gray. “We’re confident this powerful and unique combination will further help our nearly 7,000 customers succeed in building healthier communities.”

Daxko is a portfolio company of GI Partners, and was represented by Atlas Technology Group and Bradley Arant Boult Cummings LLP. Prior to the acquisition, Zen Planner was a portfolio company of Mainsail Partners and was represented by JMP Securities LLC and Fenwick & West LLP.

Zen Planner and its 88 team members will join the Daxko team and will continue to be led by Jeff Gardner as President from their Highlands Ranch, Colorado offices.

About Daxko
Headquartered in Birmingham, Alabama, Daxko is the leading provider of software solutions to the member-based health & wellness market. Daxko’s innovative portfolio of solutions helps customers achieve high levels of operational efficiency, strong fiscal management, and increased engagement of their communities. Daxko now employs over 280 team members. For additional information, please visit Daxko.com.

About Zen Planner
Denver-based Zen Planner, now “a Daxko company,” provides over 5,500 health & wellness business owners in 58 countries the tools they need to scale their business and build healthier communities. Zen Planner’s comprehensive suite includes member management SaaS software, staff and member apps, integrated websites and more. For additional information, please visit ZenPlanner.com

About GI Partners
Founded in 2001, GI Partners is a leading middle market private equity investment firm based in San Francisco. The firm has raised over $13 billion in capital commitments through private equity and real estate strategies from recognized institutional investors across the globe. GI Partners is active in a number of key sectors, including IT Infrastructure, Healthcare, Software, and Services. For more information on GI Partners and its entire portfolio, please visit gipartners.com.

About Mainsail Partners
Mainsail Partners is a growth equity firm that invests exclusively in growing bootstrapped companies in three core industry sectors: software, technology-enabled services, and healthcare. The San Francisco-based firm was founded in 2003 and has raised over $750 million in committed capital. For further information, please visit mainsailpartners.com.

SaaS Funding Announces Santa Monica Office and New Team Members

By | SaaS Funding | No Comments

SaaS Funding (www.saasfunding.com), a leading provider of senior and junior debt capital to Software-as-a-Service (SaaS), digital media and tech enabled service companies, is pleased to announce that it has opened an office in the heart of Santa Monica, hired a team of SaaS professionals and has funded five recent transactions. SaaS Funding is a division of Super G Funding, pioneers in recurring revenue lending. SaaS Funding’s understanding of recurring revenue businesses enables companies to use debt instead of equity to scale, minimize dilution and maintain liquidity.

SaaS Funding was formed in order to provide a dedicated team and resources to emerging SaaS, digital media and tech companies. SaaS Funding is the only lender that has a unique loan program called “First-to-Second” meaning that SaaS Funding will start off as the senior lender and finance a client until it can obtain a credit line from a bank or other permanent senior lender and then subordinate. “SaaS Funding’s capital base enables us to fund quickly and provide true flexibility that we can upsize over the course of the loan,” according to Director Charlie Perer who heads origination efforts in SaaS Funding’s Santa Monica office. “We are unique in our ability to begin as a senior lender and end up in a subordinated position in order to maintain a long-term relationship with our clients.”

SaaS Funding primarily focuses on bootstrapped and angel-backed companies who have less financing options than traditional venture backed companies.  SaaS Funding provides flexible lending programs with loan amounts ranging from $250,000 to $3 million and terms ranging from 12 months to 36 months.

New team members include Venture Partner, Ivan Nikkhoo, who is a veteran SaaS advisor and entrepreneur. “With our team now centrally located in the heart of Silicon Beach, we have dedicated resources to handle the deal flow from the Southern California Tech community with the goal to expand nationally given our capital base and team,” commented Darrin Ginsberg, CEO of Super G Funding. “We’re excited to have closed five new SaaS transactions including loans to Mobile Cause and Solid Commerce. They are innovative, rapidly growing companies and an ideal match for our non-dilutive junior capital.”

About SaaS Funding

SaaS Funding, based in Santa Monica, CA and Newport Beach, CA, was founded as a division of Super G Funding and is exclusively focused on providing senior and junior debt capital to SaaS, digital media and tech companies. SaaS Funding’s understanding of recurring revenue businesses enables companies to use debt instead of equity to scale, minimize dilution and maintain liquidity. SaaS Funding’s first-to-second debt approach is a one of a kind feature that enables companies to maintain a long-term relationship with SaaS Funding. SaaS Funding offers flexible debt solutions with loans ranging in size from $250,000 – $3,000,000 and terms ranging from 12 months to 36 months. Visit www.saasfunding.com to learn more about the Company.

Intrepid Announces the Growth Capital Raise for Solid Commerce

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Intrepid is pleased to announce the completion of a growth capital raise for its client, Solid Commerce, a leading player in the Software-as-a-Service (SaaS) eCommerce space. With the support of its new partners, Silicon Valley-based Montage Capital and Silicon Beach-based SaaS Funding, both of whom are minimally dilutive providers of growth capital to technology businesses, Solid Commerce will accelerate the implementation of its growth initiatives, including sales and marketing, improved UI/UX, and continued marketplace expansion. Intrepid acted as the exclusive financial advisor to Solid Commerce.

“We are very proud of the platform that we have built. Recently, we have enhanced the user interface and introduced several new features that provide our customers with unprecedented access to the burgeoning online marketplace environment, which in turn, has attracted tremendous demand from end users and large industry partners,” said Eran Pick, CEO of Solid Commerce. “This growth investment will allow the company to continue aggressively expanding and further solidify its position as the market leader in retail eCommerce software.”

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The success of the Solid Commerce platform is based on the company’s unique ability to seamlessly integrate with businesses of all shapes and sizes—from SMB, to mid-market to enterprise, across any end market. “Eran and his team have done a truly remarkable job in creating a transformational software platform catering to the large and ever-growing global retail eCommerce marketplace,” said Tristan Snyder, Co-Head of Intrepid’s Software & Services practice. “Eran engaged us to run a highly competitive, tailor-made process focused on value-added software and technology growth investors. We are privileged to have had this opportunity to help Eran and couldn’t be more excited about the future of the company.”

Headquartered in Marina Del Rey, Calif., Solid Commerce is the preeminent provider of retail eCommerce solutions that bind everything that is required to create a single seller experience for retailers online. Solid Commerce has won numerous industry accolades, including earning a position on the Inc. 500 in 2014 and being named a Top 10 Retail eCommerce Solutions Provider in 2015 by CIO Outlook.

SaaS Funding Provides $1.6 Million 2nd Lien Financing to IT and Communication Services Provider

By | 2nd Lien Financing | No Comments

The Company:
A leading provider of IT consulting and cloud collaboration solutions to the government, Fortune 500 companies, and medium size businesses.

The Financing Situation:
The Company engaged an investment bank to raise institutional mezzanine capital to finance its next phase of growth. During this process the Company had a short-term working capital need to fulfill a backlog of new service contracts and to stay current with existing vendors. The Company needed incremental capital beyond its borrowing base since new service contracts require upfront capex before the Company can start invoicing and generating accounts receivable.

The Solution:
Super G underwrote and closed a 2nd lien term loan within weeks to meet the Company’s timing needs. Super G provided a structured solution with a custom repayment schedule in partnership with the Company’s senior ABL lender, CapitalSource.  CapitalSource was a value added partner in terms of their service and speed, working with all parties to ensure timely execution and a successful closing.

SaaS Funding Provides $1.3 Million Bridge Financing to Digital Media Company

By | SaaS Funding | No Comments

The Company: A fully-integrated digital media content company.

The Financing Situation:  The Company was in the process of raising venture capital to fund strategic acquisitions and other long-term growth initiatives.  During this process, the Company needed additional working capital to fund operations in order to maintain its growth trajectory.

The Solution:  Super G was able to quickly get comfortable with the Company’s value proposition, experienced management team, and institutional backer.  Most importantly, the Company demonstrated the ability to sufficiently debt service Super G’s amortizing term loan assuming the venture debt and Series B round did not close.  Super G structured a flexible 2nd lien solution subordinated to the Company’s senior lender, FastPay, a financial platform that provides credit and payment solutions to the global digital media industry.  Super G’s covenant light loan documents and rapid decision making allowed for an efficient and seamless closing.   Post-funding, the Company was able to successfully close its venture debt round.

For more information on FastPay, please contact:

Maytal Shainberg
Sr. Director, Engagement
maytal@gofastpay.com
www.gofastpay.com

 

SaaS Funding Closes Acquisition Financing for ShootQ

By | Closes Acquisition Financing | No Comments

The Acquirer:

Simply Color Lab, one of the nation’s top professional photography printers.

The Target:

ShootQ, a SaaS company that provides a complete studio management system made especially for photographers. ShootQ’s virtual management software assists its professional photography users in all facets of the sales process from tracking prospective clients, contract and payment management, to client product delivery, and much more.

The Financing Situation:

Simply Color Lab could not obtain enough availability from its senior lender to purchase ShootQ and fund growth.  Simply Color Lab needed a lender that would underwrite the monthly recurring revenue and cash flow of ShootQ rather than focusing on its assets, or lack thereof.  As with all acquisition deals, a quick close was required as well.

The Solution:

Super G was able to get comfortable with ShootQ’s subscriber statistics and monthly recurring revenue to finance a majority of the purchase price with the remainder coming from Simply Color Lab as equity.  Super G structured a non-dilutive 24 month solution for the acquisition that should be highly accretive as it allows Simply Color Lab to further expand its product and service capabilities to provide its customers with a quality management program that will create more efficient business practices and significant cross-selling opportunities.

SaaS Funding Provides Growth Capital to ClickNotices, Inc.

By | Growth Capital | No Comments

The Company:

ClickNotices, Inc. is the leading Software-as-a-Service (SaaS) provider of court filing and delinquency management services to the multifamily industry. The Company’s cloud-hosted platform and expert court agents offload the administrative burden of managing late rent.  Every month, ClickNotices handles thousands of late rent cases, helping property managers minimize delinquencies, reduce legal costs, and simplify operations.

The Financing Situation:

ClickNotices was bootstrapped, growing quickly and recently turned profitable.  Its founders wanted to invest more aggressively in growth while minimizing dilution.  The Company wanted a financing partner that would provide capital based on a multiple of its recurring revenue and was capable of supporting its growth and possible acquisition strategy.

The Solution:

As a pioneer and market leader in residual loans, Super G was able to quickly understand and underwrite ClickNotices’ revenue stream.  Super G was able to structure non-dilutive growth capital based on a multiple of monthly recurring revenue and close within weeks.

SaaS Funding Invests Growth Capital in MobileCause

By | Growth Capital, SaaS Funding | No Comments

MobileCause Positions Itself for Additional Product Advancement

Newport Beach, CA (July 21, 2015) – Super G Funding (‘Super G”), announced a significant investment in MobileCause, a California company, and leader in mobile fundraising and communication for nonprofits. MobileCause provides a cloud based online fundraising and communication platform for nonprofit organizations enabling them to raise more money at a lower cost.

Super G’s software division, SaaS Funding, provides recurring revenue software companies such as MobileCause with growth capital from $100,000 – $5 million. Super G is led by entrepreneur and payments veteran, Darrin Ginsberg. “MobileCause is extremely well-positioned for the rapid growth of mobile giving and a terrific match for our SaaS Funding product,” said Ginsberg.

“This investment will allow MobileCause to advance product development and accelerate sales and marketing” said Sean MacNeill, MobileCause CEO. “We are excited to be working with the Super G team and welcome the deep payments knowledge and relationships they bring to our mobile efforts.”

MobileCause provides a suite of products for a new generation of giving. Designed to help organizations gain donors, increase recurring gifts and engage supporters, products include Crowdfunding for nonprofits, merchant and payment services, text to donate and mobile alerts. National non-profit clients include: United Way, the Salvation Army, Boys and Girls Club of America and the American Heart Association.

About Super G Funding
Super G Funding, based in Newport Beach, CA, is a national provider of entrepreneur friendly small business financing solutions with loans ranging in size from $100,000 – $5 million. Super G Funding specializes in residual based and traditional cash flow supported loans. Super G Funding is a pioneer and market leader in residual loans to a variety of industries such as merchant services, ATM and insurance brokers. Super G’s SaaS Funding division provides non-dilutive growth capital to recurring revenue software providers.

About MobileCause
MobileCause provides cloud based online fundraising and communication software for nonprofit organizations enabling them to raise more money at a lower cost. Each powerful solution is designed to mobilize networks of volunteers, donors and staff while making it easy for people to give and stay connected from any device. Our suite of products: crowdfunding for nonprofits, comprehensive online giving, dynamic event fundraising, text to donate keywords, mobile marketing and smart data records, is designed for a new generation of giving for mobile, online and social. Customers can be up and running in hours with no technical skills required. MobileCause provides turnkey merchant and payment services at a simple flat rate that includes a specialized mobile payment app for nonprofits. Each plan includes dedicated strategy support from fundraising experts. Featured clients include United Way, The Salvation Army, American Heart Association, University of Southern California, Habitat for Humanity and many more.