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PNC Bank Closes C$17.1MM Financing for Doxim Solutions

October 04, 2016, 07:22 AM
Filed Under: Technology

PNC Bank Canada Branch, the Canadian branch of PNC Bank, N.A., completed a CA$17.1 million financing package for Doxim Solutions ULC, a leading provider of SaaS customer engagement solutions for banks, credit unions and wealth management firms in North America.

The PNC financing included a CA$1.9 million senior secured revolver with a CA$15.2 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.

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

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