Scale Finance Closes Growth Financing for Celerity

Celerity, a SONA USA INC. company is dedicated to installation and service of high-speed internet and television systems for multi-resident properties in Southeast Florida. The Company’s core focus is installing reliable and high-speed fiber optic based systems in many multi-tenant properties in the region. The Company manages its own Internet Service Provider, in-house technicians to handle the installation, as well as service technicians to respond quickly to any customer issues that may arise.

Scale Finance provides CFO and advisory services to a key strategic partner of Celerity who is investing in the Company’s growth through project financing. SF’s Managing Directors Gerhard Renner and Dave Gilroy are also individual investors.

As an add-on service, the Company also installs and manages video installations for satellite TV – such as Dish Network and DirecTV. These providers subsidize Celerity with respect to the cost of the programming – which Celerity recoups by charging the apartment complex under contract.

Celerity contracts with multi-tenant dwelling units (MDU) to provide high speed internet services as well as video connectivity to the buildings.  Celerity enters into a long-term agreement (typically 5 years, guaranteed) with the building’s Homeowner’s Association to provide a basic programming package of 25 mbps as well as 120 channels of Dish Network (or DirecTV) for a combined price of $33.99 per unit (internet + Dish), making it highly affordable for the tenants on a monthly basis.