Coconut Software receives $1.75 million in debt financing from CIBC
Summary
Saskatoon-based Coconut Software has received $1.75 million in debt financing from CIBC Innovation Banking, with the company intending to support its strategic plan and to invest in its growth. Coconut Software is a cloud-based SaaS appointment scheduling and lobby management solution that is modernizing how banks and credit unions engage with their clients. “Coconut’s solutions are disrupting the industry standard.” Founded in 2007, Coconut Software is headquartered in Saskatoon, with one office in Toronto. The company’s hope is by enabling the customer to schedule appointments, its software can reduce frustration from waiting in line or on the phone. In the 15 months since the Series A, the company doubled its staff headcount to more than 50 employees and opened a new sales and marketing office in Toronto.
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