Great Rock Capital Closes CAN$10 Million Senior Secured Revolving Credit Facility with Smart Employee Benefits

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Great Rock Capital Closes CAN$10 Million Senior Secured Revolving Credit Facility with Smart Employee Benefits

Great Rock Capital Closes CAN$10 Million Senior Secured Revolving Credit Facility with Smart Employee Benefits

December 15, 2020

New funding to expedite continued growth for Canadian technology company

Westport, CT – December 15, 2020 – Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the completion of a CAN$10 million senior secured revolving credit facility with Smart Employee Benefits, Inc. (“SEB”), a Canadian-based technology company that builds, customizes, implements, integrates, and manages data-processing solutions.

The additional working capital will support the ongoing growth of SEB and refinance their existing liquidity facility. Canaccord Genuity Corp. acted as financial advisor to SEB.

“This capital will allow us to unlock our rapid growth potential while positioning the company for continued success,” said John McKimm, President, CEO and CIO of Smart Employee Benefits. “We look forward to working with Great Rock Capital as we execute on our strategic expansion plans.”

“Smart Employee Benefits is led by an innovative and devoted management team that created an industry-leading global platform,” said Stuart Armstrong, CEO of Great Rock Capital. “Great Rock is pleased to provide additional liquidity as SEB’s financial partner to support the continued acceleration of their growth trajectory.”

About Great Rock Capital

Great Rock Capital is an asset-focused commercial finance company specializing in serving the needs of middle market companies with a wide variety of secured lending products. Great Rock Capital provides fast, flexible, and creative financing solutions to maximize its customers’ liquidity to enable them to better execute their business plans. Great Rock Capital has received significant capital commitments from its partners, Sightway Capital, a Two Sigma company, and a large institutional investor. 

About Smart Employee Benefits, Inc.

SEB is a technology company providing Business Process Automation and Outsourcing software, solutions and services to a national and global client base. SEB has a specialty growth focus in cloud enabled processing solutions for managing employer and government sponsored health benefit plans on a BPO (Business Processing Outsourcing) business model, globally (through wholly owned SEB Administrative Services Inc.). SEB currently serves corporate and governmen tclients across Canada and internationally. Over 80% of SEB’s revenues derive from government, insurance and health care organizations. SEB’s technology infrastructure of over 650 multi-certified technical professionals, across Canada and globally, is a critical competitive advantage in supporting the implementation and management of SEB’s benefits processing solutions into client environments. SEB’s Benefits Processing Solutions can be game changing for SEB clients.

The core expertise of SEB is automating and managing business processes utilizing SEB proprietary software solutions combined with solutions of third parties through joint ventures and partnerships. SEB’s client acquisition model in benefits processing is “Channel Partnerships” where SEB processing solutions both improve cost structures and enable new revenue models for Channel Partners and clients. All SEB solutions are cloud enabled and can be delivered on a SaaS platform. SEB solutions turn cost centers to profit centers for our Channel Partners.

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