TORONTO, May 15, 2024 – Flow Capital Corp. (TSXV:FW) (“Flow Capital” or the “Company”), a leading provider of flexible growth capital and alternative debt solutions, is pleased to announce the successful closure of a US$4.0 million senior note investment in GetTattle Inc. dba Tattle (“Tattle”), a global Customer Experience Improvement (“CXI”) software-as-a-service (“SaaS”) platform focused primarily on the restaurant and hospitality sector.
Tattle stands out as the first CXI platform built on an open API. This structure enables seamless integrations with ordering and loyalty platforms, facilitating the collection of an unprecedented volume of feedback across all transaction channels. Based on the feedback data, Tattle’s proprietary algorithm recommends top improvement opportunities at a brand and location level, empowering restaurant operators with the most strategic objectives and action plans to improve guest satisfaction and revenue.
In addition, Tattle equips restaurants with a variety of tools for automatic guest recovery, one-stop-shop reputation management, menu item-level insights, incident management, and more. Currently, Tattle supports over 220 clients across more than 11,000 locations globally.
This capital injection will enable Tattle to further enhance its innovation capabilities and expand its market reach, solidifying its position as a leading player in the customer experience management industry. Already widely adopted by renowned brands, Tattle’s platform is increasingly recognized as the gold standard for benchmarking customer experience.
Flow Capital continues to focus on helping high-growth companies achieve their objectives by providing fast access to growth capital. Flow Capital invites growing technology companies, seeking covenant-light founder-friendly growth capital, to apply for funding directly on their website at www.flowcap.com/apply.
About Tattle
Tattle is the only Customer Experience Improvement (CXI) platform built to assist the restaurant and hospitality industries in collecting actionable feedback data by engaging with their customers at the points of transaction. By utilizing existing third-party tools and API integrations, Tattle connects brands with their guests at every touchpoint of the customer journey. Through their AI, Tattle recommends the most opportune areas for operational improvement at each partner location to drive the greatest increase in guest satisfaction. Tattle powers the operational improvement strategy for industry leaders such as Chili’s, Cava, MOD Pizza, Dave’s Hot Chicken, Hooters, Farmer Boys, and more.
Visit www.gettattle.com to learn more.
About Flow Capital
Flow Capital is a diversified alternative asset investor and advisor, specializing in providing minimally dilutive capital to emerging growth businesses. For more information on Flow Capital, please visit www.flowcap.com.
For further information, please contact:
Flow Capital Corp.
Alex Baluta
Chief Executive Officer, Flow Capital Corp.
alex@flowcap.com
47 Colborne Street, Suite 303,
Toronto, Ontario M5E 1P8
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, information relating to the current or prospective performance of one or more of the Company’s investments and the book value per common share of the Company.
An investment in securities of the Company is speculative and subject to a number of risks including, without limitation, risks relating to: the need for additional financing; the relative speculative and illiquid nature of an investment in the Company; the volatility of the Company’s share price; the Company’s ability to generate sufficient revenues; the Company’s ability to manage future growth; the limited diversification in the Company’s existing investments; the Company’s ability to negotiate additional royalty purchases from new investee companies; the Company’s dependence on the operations, assets and financial health of its investee companies; the Company’s limited ability to exercise control or direction over investee companies; potential defaults by investee companies and the unsecured nature of the Company’s investments; the Company’s ability to enforce on any default by an investee company; competition with other investment entities; tax matters, including the potential impact of the Foreign Account Tax Compliance Act on the Company; the potential impact of the Company being classified as a Passive Foreign Investment Company; the Company’s ability to pay dividends in the future and the timing and amount of those dividends; reliance on key personnel, particularly the Company’s founders; dilution of shareholders’ interest through future financings; and general economic and political conditions; as well as the risks discussed in the Company’s public filings. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Assumptions about the performance of the Canadian and U.S. economies over the next 24 months and how that will affect the Company’s business and its ability to identify and close new opportunities with new investees are material factors that the Company considered when setting its strategic priorities and objectives, and its outlook for its business.
Key assumptions include, but are not limited to: assumptions that the Canadian and U.S. economies relevant to the Company’s investment focus will remain relatively stable over the next 12 to 24 months; that interest rates will not increase dramatically over the next 12 to 24 months; that the Company’s existing investees will continue to make royalty payments to the Company as and when required; that the businesses of the Company’s investees will not experience material negative results; that the Company will be able to successfully integrate and grow the businesses of its predecessor companies; that the Company will continue to grow its portfolio in a manner similar to what has already been established; that tax rates and tax laws will not change significantly in Canada and the U.S.; that more small to medium private and public companies will continue to require access to alternative sources of capital; that the Company will have the ability to raise required equity and/or debt financing on acceptable terms; and that the Company will have sufficient free cash flow to pay dividends. The Company has also assumed that access to the capital markets will remain relatively stable, that the capital markets will perform with normal levels of volatility and that the Canadian dollar will not have a high amount of volatility relative to the U.S. dollar. In determining expectations for economic growth, the Company primarily considers historical economic data provided by the Canadian and U.S. governments and their agencies. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
