NEW YORK, NY – May 16, 2013 – SaaS Capital, the pioneer provider of alternative growth financing for SaaS businesses, today announced that it has provided a $2.5 million line-of-credit to WebLink International.
Based in Indianapolis, WebLink is the leading provider of web-based membership management solutions to more than 1,500 Chambers of Commerce, business associations, and member-based organizations.
“The association marketplace is a natural fit for our solution, and the SaaS Capital line-of-credit will enable us to further expand our sales, marketing, and product offering for this sector,” says Terry Dwyer, CEO of WebLink. “Among the financing alternatives we considered, SaaS Capital offered us the exact kind of financing that we needed – along with a supportive, knowledgeable partnership – all of which will help drive company growth. ”
“We are pleased to welcome WebLink to the SaaS Capital portfolio,” comments Todd Gardner, CEO of SaaS Capital. WebLink is a proven leader in their field, and the additional capital will allow them to become even stronger. Our MRR driven loan structure is an efficient way for them to finance their growth in the association management space.
About SaaS Capital
SaaS Capital is the leading provider of alternative growth capital for SaaS companies. Our financing – structured as a line-of-credit that is tied to a SaaS company’s recurring revenue stream – leverages the unique cash flow of a SaaS business, functions as a long-term stable source of capital, and potentially eliminates the need for equity financing. Through its partnership with DH Capital, SaaS Capital can also assist with a variety of M&A and capital raising advisory services.
WebLink International provides Chambers of Commerce, business associations, and other member based organizations with the power to more effectively manage their organization and their members. Headquartered in Indianapolis, WebLink’s technology suite of member management tools includes database management software, event management, communications management, financial management, social media, websites, mobile, and non-dues revenue programs. WebLink’s solutions are unique because of their seamless integration, ease of use, affordability, and robust reporting. For more information, visit www.weblinkinternational.com.
Although we received several outside funding offers, we knew SaaS Capital was the best fit for us at this stage. Working with SaaS Capital we’re able to avoid both the strict requirements of traditional bank financing and the ownership dilution that comes with an equity investor.
Founder and CEO, Webgility