Wellington Financial provided venture debt financing to Salsa Labs Inc worth USD 2 million. Wellington is a private equity firm based in Toronto. Salsa Labs is a Washington, DC developer of an online platform that enables nonprofit organizations to reach out to others to gather support.
Wellington Financial Partner Mark Usher said that Salsa Labs' 98% client satisfaction rating made them a welcome addition to their portfolio. "More than 2,000 organizations, including political campaigns, nonprofit groups and other associations from small two-person organizations to global institutions are using Salsa's state-of-the-art platform to manage their online supporters in a more effective manner," he added.
Salsa Labs Chief Executive Officer Scott Stouffer, meanwhile, saw Wellington's support as an affirmation of their unique market position. "Funding from Wellington Financial is a testimony of the tremendous market opportunity, our unique position within the market and the success we've had supporting our clients. With their support, we will continue to develop and enhance our platform's existing capabilities to help nonprofits and political organizations of all sizes ignite action and fuel change for a better world," he explained.
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