Wellington Financial provides new US$10 million growth capital facility to Exinda
Canadian specialty finance firm Wellington Financial has committed US$10 million in venture debt financing to Toronto-based Exinda Inc., a provider of network orchestration solutions for real-time business applications. Along with its Toronto headquarters, the company has primary offices in Waterloo and Boston, Massachusetts.
“Wellington first entered into a relationship with the Company back in 2012,” said Mark Usher, Partner at Wellington Financial. “Since that time, we have been pleased by the consistent growth both in revenue and profitability that Exinda’s leadership team has delivered. Wellington’s True Growth Capital has played an important role in management’s execution of its business plan and we look forward to continuing our partnership for many years to come.”
Michael Sharma, CEO of Exinda added, “Wellington Financial has been a great partner for us over the past few years. We are excited that they have demonstrated a renewed commitment to supporting the growth of Exinda with this new facility and look forward to generating great returns for our collective investors and valued clients.”
Founded in 2002, Exinda is backed by U.S. venture capital firms OpenView Venture Partners and Greenspring Associates.