PNC Bank Canada Branch has completed a CAD17.1 million financing package for Doxim Solutions ULC, a provider of SaaS customer engagement solutions for banks, credit unions and wealth management firms in North America.
The PNC financing included a CAD1.9 million senior secured revolver with a CAD15.2 million senior secured term loan.
The company will use the funds to refinance existing debt and for ongoing working capital.
Doxim, based in Markham, Ontario, is founder-led and a portfolio company of Strattam Capital, a private equity firm with offices in San Francisco, CA and Austin, TX.
The Doxim Customer Engagement Platform helps financial institutions transform their client experience, communicate more effectively throughout the client lifecycle and improve selling activities to drive increased wallet share. The platform addresses key digitization challenges from automated account opening and loan origination through targeted omni-channel customer communications to anytime, anywhere content access.
In Canada, commercial bank deposit, treasury management, lending (including asset-based lending) and leasing products and services, are provided by PNC Bank Canada Branch.
