Flexiti, a prominent Canadian point-of-sale fintech lender, has announced it has secured $80.0 million in new investment capital. This funding round marks a significant milestone for the company, which provides flexible financing options to consumers across Canada. The capital infusion will support Flexiti's ongoing expansion and strategic initiatives.
Founded in 2013 by Peter Kalen, Flexiti operates an award-winning sales financing platform designed to help Canadians make important purchases. Its service is available at a network of over 8,000 top-tier Canadian retail locations and e-commerce sites, including major brands such as The Brick, Wayfair.ca, Sleep Country, Staples, and Birks. The platform allows users to receive instant approval for 0% interest financing on purchases within their credit limit, streamlining the point-of-sale experience for both customers and merchants.
Flexiti has established itself as one of Canada's fastest-growing sales financing providers, having facilitated over $2 billion in flexible financing for Canadians. The company's consistent performance has been recognized through various accolades, including being named one of Canada’s Top Growing Companies for four consecutive years. In 2021, Flexiti also ranked 10th on Deloitte’s Canada’s ‘Technology Fast 50™’ and 54th on Deloitte’s North American ‘Technology Fast 500™’, underscoring its rapid expansion and technological innovation within the fintech sector.
The newly raised $80.0 million in investment capital is intended to fuel Flexiti's continued growth. The company plans to use the funds to further expand its platform, enhance its technological capabilities, and broaden its market reach across Canada. This strategic investment positions Flexiti to build upon its success and continue its mission of providing accessible financing solutions to a wider consumer base.
