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§ Private Profile · Toronto, ON, Canada
Point-of-sale financing platform enabling merchants to offer transparent payment plans for home improvement, RV, and retail customers.
Financeit is a Toronto, Ontario-based point-of-sale financing platform that enables merchants in the home improvement, recreational vehicle, and retail industries to offer transparent payment plans to their customers. The company processes billions in sales annually across thousands of merchant partners, and funded $534 million in loans during 2021, while currently targeting $1 billion in annual loan originations. Its recent acquisition of Simply Group added a portfolio of $3 billion in home improvement loans, expanding its reach to serve over 500,000 Canadian consumers and more than 180 professionals. The enterprise operates as a subsidiary of CommunityLend Holdings Inc. and has drawn significant institutional backing and merger and acquisition activity involving recognizable financial entities such as Goldman Sachs, Wafra Capital Partners, and SNAP Home Finance. Financeit was founded in 2011 by Casper Wong, Michael Garrity, and Paul Sehr.
Financeit has raised $149.7M across 3 funding rounds.
Financeit has raised $149.7M in total across 3 funding rounds.
Financeit has raised $149.7M in total across 3 funding rounds.
Financeit's investors include ClearFlow Commercial Finance, DNS Capital, The Pritzker Organization, Harris Barton, Mark Johnson.
Financeit has raised $149.7M across 3 funding rounds. Most recently, it raised $120.0M Debt in June 2017.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 8, 2017 | $120M Debt Financing | — | ClearFlow Commercial Finance | Announced |
| Oct 6, 2016 | $16.7M Venture Round | DNS Capital, The Pritzker Organization | Harris Barton | Announced |
| Nov 19, 2013 | $13M Series A | Mark Johnson | — | Announced |