AppDirect, a subscription service platform company, is embarking on a partnership with CDPQ to start Appdirect Capital.
The new venture will be focused on providing businesses innovative funding programs, according to a Business Wire press release.
The recent launch was made possible thanks to an initial investment between the companies of $80 million, the release stated.
“Our growing network of technology advisors has seen unprecedented demand for cloud and connectivity in recent years," Daniel Saks, co-founder and co-CEO of AppDirect said. "With the launch of AppDirect Capital, we will be able to bolster our AppSmart Invest program while building a catalog of financial products to help advisors grow and scale their businesses."
Saks stressed that the purpose of the new program is multi-faceted.
"AppDirect Capital is purpose-built for channel partners and offers them simple, hassle-free access to funding that enables them freedom to grow their business on their terms,” Saks said according to the release.
CDPQ has been an active shareholder and partner for AppDirect since 2020.
AppDirect is based in San Francisco and has established several partnerships with popular companies including Microsoft, Google and Deutsche Telekom.