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Ottawa's Nakina Systems has landed $US$2.25million in debt financing from Toronto-based MMV Financial. Nakina provides network and service assurance software to service providers and network operators.

Nakina plans to invest the money in expanding its R&D team to keep up with expanding customer requirements.

MMV Financial was previously known as MM Venture Partners. It has recently re-positioned and now focuses on debt financing for emerging and mid-market companies in the technology and life science areas.

"We're making the investment in Nakina because their products solve real-life headaches by simplifying how service providers manage their telecommunications networks," Ron Patterson, executive vice president of MMV Financial, said in a statement.

"A service provider can deploy Nakina's software in its network and realize a payback of its entire investment within just a few months. That translates into substantial, compelling value for their potential customers."

"MMV Financial is emerging as a leader in this alternative type of funding for high technology companies. Because of their experience in financing enterprises in the high tech sector, they are able to quickly assess investment targets in the interest of making timely decisions," says Nakina president and CEO Dave Vicary.

"We're very excited to have MMV as an investment partner."

Nakina has recently completed a sale to a Tier 1 U.S. Telecom service provider and has trials in progress with similar companies in Canada and the United States.





 
     
 
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