Newport Beach, CA (PRWEB) July 16, 2013
SaaS Funding is pleased to announce its first investment, a growth capital financing for Controltec, Inc. of Escondido, CA.
Controltec develops and markets software and services for subsidized childcare (e-childcare) and other government initiatives. The company’s flagship product KinderTrack is designed to automate and streamline all aspects of subsidy management for childcare, including case management, childcare provider management, scheduling, eligibility determination, reporting, payment calculation and processing, and correspondence. The system can be used as a county-level subsidy management system, or on the statewide level.
SaaS Funding, launched in April 2013 by Super G Holdings, provided a customized debt solution to fund development of Controltec’s anti-fraud management capabilities. Darrin Ginsberg, SaaS Funding’s CEO commented “We started SaaS Funding to work with entrepreneurs such as the Controltec team and fund the next phase of their expansion.” Norbert Haupt, Controltec’s President added: “We see strong customer demand for our new product niche in the fraud prevention and detection space for state and local government. We were fortunate to meet SaaS Funding to help us with resources to bring these products to market.”
SaaS Funding allows developers to leverage their recurring subscription revenue to obtain growth financing while retaining equity ownership. Loan amounts range from a minimum of $25,000 up to $2 million and features rapid funding.
“SaaS Funding…Funding America’s Developers”
About Super G Holdings
Super G Holdings is a provider of entrepreneur friendly small business financing solutions. We specialize in loans from $50,000 - $2,000,000. We operate several lending divisions. BizCash provides small, growing businesses with revenue and cash flow based financing. SaaS Funding provides financing to software developers and software as a service companies. Super G Holdings also sponsors The Guppy Tank (http://www.theguppytank.com) which puts on events across the United States for entrepreneurs to pitch for both equity investments and loans. For more information about SaaS Funding, go to http://www.saasfunding.com or call Darrin Ginsberg at 800-631-2423.
About Controltec, Inc.
Controltec designs and hosts software systems for state and local government for childcare subsidy administration. For more information about Controltec visit http://www.controltec.com.