Vancouver, BC – Digital Payment Technologies Corp., a leading supplier of revenue management solutions for the global parking industry, is pleased to announce a venture loan of $2.4 million from MMV Financial, a new trade finance facility of $1 million from the Royal Bank of Canada and an investment of $1 million from ENSIS Growth Fund and Digital’s CEO.
“We are very pleased to have received this funding and financing facilities from MMV, Royal Bank, ENSIS and our CEO.” said Ron Barnes, Chairman of Digital Payment. “These funds will be used to foster the significant growth our Company is experiencing.”
“Digital’s new product releases over the last two years are being rapidly accepted in the marketplace, and we are pleased to be able to assist in their growth,” said Ron Patterson, MMV Financial’s Executive Vice President.
"We see excellent products at Digital and are pleased to support the continued expansion of the business," stated Bill Watchorn, President and CEO of ENSIS."
About Digital Payment Technologies Corp.:
Digital Payment is an innovative leader in the design, manufacture and distribution of innovative revenue-management hardware, software and wireless solutions for the multi-billion-dollar parking industry. The company’s products provide complete financial tracking, control and reporting on parking revenue collected by cities, municipalities, universities, parking management companies, private operators and national parks, from customer payment through to bank deposit.
About MMV Financial, Inc.:
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, NewStar Financial, Inc., and Wells Fargo Company. For more information visit www.mmvf.com.
About ENSIS Growth Fund Inc.:
ENSIS Growth Fund is a $104 million, venture capital fund. ENSIS focuses on providing value to its shareholders through its strategy of identifying and partnering with entrepreneurs in globally competitive, high growth businesses. For more information, visit http://www.ensis.ca/.
About the Royal Bank of Canada:
Royal Bank of Canada (TSX, NYSE: RY), and its subsidiaries operate under the master brand name of RBC Financial Group. RBC is Canada's largest bank as measured by assets and market capitalization and one of North America's leading diversified financial services companies. RBC employs approximately 69,000 people who serve more than 14 million personal, business and public sector clients throughout offices in North America and some 30 countries around the world.
For more information, please contact:
Campbell & Company Strategies
Vice President, Investments
ENSIS Growth Fund