Montréal, March 15, 2023 — As part of the Impulsion event, the International Summit on Electric and Intelligent Transportation (TEI) organized by Propulsion Québec, Finalta Capital, one of Canada’s largest funds specializing in non-dilutive financing of tax credits and government grants, announces $50 million in financing dedicated to the electric and intelligent transportation ecosystem.
An enhanced financing model, adapted to the TEI sector
The $50 million envelope set up by Finalta Capital meets several essential criteria for TEI stakeholders:
- Amount : Finalta provides financing from $500,000 to $15 million depending on the size of the innovative projects;
- Funds availableupfront : loan disbursements are made even before project expenses are incurred;
- Speed : first disbursement within 15 business days after submitting the application.
This specialized financing is aimed at both startups and large companies. With more than 10 years of financing experience and over $425 million already lent, Finalta Capital brings unique technological and financial expertise to understand the financing needs and challenges of innovative companies in the TEI ecosystem.
A response to the needs of the TEI ecosystem
Pressure on actors in the TEI ecosystem is high, and action must be taken quickly to reduce greenhouse gas emissions from land transportation and contribute to a greener Quebec economy. The TEI industrial cluster has, since the release of its study:Diagnosis of the financing chain in the electric and intelligent transportation sector in Quebec (December 2021) called for the creation of a dedicated $100 million fund and included this recommendation in its roadmap,Ambition TEI 2030. Propulsion Québec does not stop at analyzing needs and making recommendations and is taking action to address a gap in the financing chain in the TEI sector in Quebec. Finalta Capital’s initiative specifically addresses the need to fill the financing chain gap and represents an essential solution to accelerate the growth of the TEI ecosystem.
Thanks to its Financing working group, Propulsion Québec was able to unveil two guides at the Impulsion event: the first aimed at capital raising and the second on investment opportunities in TEI in Quebec. The announcement of the $50 million envelope set up by Finalta Capital dedicated to the TEI sector, born from Propulsion Québec’s outreach work for its ecosystem, affirms its role as a facilitator for TEI deployment and reiterates the importance of industry clusters as collaborative organizations.
“With this announcement of $50 million dedicated to the electric and intelligent transportation sector, Finalta Capital untangles the financing chain. I welcome Finalta Capital’s commitment to our ecosystem and their willingness to provide an enhanced financing solution adapted to the TEI sector so that Quebec maintains its lead in a competitive global context. Moreover, the non-dilutive nature of this financing will allow organizations and their founders to reap a larger share of the rewards of their work.”
“Thanks to its leadership, Propulsion Québec achieves an important objective of its mandate by filling a gap in the financing chain for companies in the electric and intelligent transportation sector in Quebec in order to position them as world leaders.”
About Finalta Capital
Finalta Capital, one of Canada’s largest funds specializing in non-dilutive financing of tax credits and government grants, supports fast-growing innovative companies by providing enhanced, non-dilutive liquidity based on tax credits and grants to be received even before projects are started and eligible expenses are paid. Finalta Capital provides financing from $500,000 to $15 million depending on the size of the innovative projects. These distinctive financing terms ease liquidity pressure for intensive innovation and productivity initiatives and provide a permanent source of liquidity to reduce dilution of founders’ ownership.
For more information:
Patrick Hamaoui – Vice-President, Business Financing – Finalta Capital
phamaoui@finaltacapital.com | 514 835-7997
