TORONTO, April 24, 2023 (GLOBE NEWSWIRE) -- Flow Capital Corp. (TSXV:FW) (“Flow Capital” or the “Company”), a leading provider of flexible growth capital and alternative debt solutions, announces the early repayment of its investment in KOVO HealthTech Corporation (“KOVO”). Kovo repaid Flow Capital’s loan investment of US$1,500,000 (C$2,020,350). In addition to the return of the principal invested, Flow also received prepayment fees of approximately US$159,452 (C$214,766).
Kovo HealthTech is a growing healthcare technology company that specializes in Billing-as-a-Service offering SaaS-style recurring revenue contracts and software for more than 1,700 US healthcare providers.
“KOVO’s acquisition expertise as well as its proprietary OneRev technology continues to optimize revenue and efficiency within its acquired US based businesses. We were thrilled to be a partner with them on their growth journey and to provide them the growth capital needed to bridge to a successful equity raise. With the help of our capital, companies are able to execute on their growth plans and avoid taking on excessively dilutive financing. We are glad we had the opportunity to partner with the team at KOVO and we wish them continued success and growth in the future,” said Alex Baluta, Chief Executive Officer of Flow Capital.
“Given the strength of our origination capabilities and our ability to continually identify and fund high performing and high growth companies, we expect to reinvest the returned capital into new high-quality investment, in pursuit of interest income and warrant based equity gains, creating more value for Flow shareholders." said Alex Baluta.
Flow Capital invites growing technology companies, seeking covenant light founder-friendly growth capital, to apply for funding directly on their website at www.flowcap.com/apply.
About Flow Capital
Flow Capital Corp. is a diversified alternative asset investor and advisor, specializing in providing minimally dilutive capital to emerging growth businesses. For more information on Flow Capital, please visit www.flowcap.com.
For further information, please contact:
Flow Capital Corp.
Alex Baluta
Chief Executive Officer
alex@flowcap.com
1 Adelaide Street East, Suite 3002,
PO Box 171,
Toronto, Ontario M5C 2V9
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
