Financeit Reaches Partnership Milestone with SLC Management
Global institutional asset manager celebrates funding achievement with Canadian Fintech
TORONTO, May 5, 2021 /CNW/ - Today, Financeit, Canada's leading point-of-sale ("POS") financing provider in the home improvement sector, announced a new milestone with its funding partner SLC Management.
The partnership has allowed Financeit and SLC Management to surpass $500 million in funding. The milestone also marks the 5th annual facility renewal between the two companies since beginning their partnership in 2017. A global institutional asset management firm, the partnership with SLC Management has helped the Canadian Fintech to bring innovative financing tools and technologies to market in the home improvement, retail, and vehicle spaces.
"We're pleased to announce that our partnership with SLC Management has been fruitful for both organizations and that we are able to provide the growth for the home improvement industry as a result of it," says Casper Wong, COO, GM, and Co-Founder of Financeit. "The company's long-standing history and reputation in the market was a defining factor for our choice of partnership and we are proud to be able to work with them to continuously innovate and invest in new technologies and practices to meet the evolving shifts in the home improvement industry."
"We're very excited to have reached this profound funding milestone with one of Canada's top Fintechs," said Jeffery Mayer, Managing Director, Private Securitization Finance, SLC Management. "We look forward to continuing this exciting work and deepening our relationship with Financeit."
Financeit's tremendous growth in 2020 garnered multiple accolades, including Canadian Business' list of Canada's Fastest-Growing Companies, The Globe and Mail's list of Canada's Top Growing Companies, and Deloitte's 2020 Technology Fast 50™ Enterprise Fast 15 company. Most recently, Financeit announced a new $500 million strategic consumer lending agreement with the Royal Bank of Canada ("RBC").
About Financeit
Centered around providing Canadians with Better Commerce for Better Living, Financeit is a market-leading point-of-sale financing provider servicing the home improvement, vehicle and retail industries. Financeit's innovative cloud-based technology makes it easy for merchants to increase close rates and transaction sizes with affordable monthly or bi-weekly payment plans. The Financeit platform features a fast, transparent application process and has serviced over 3,000 active merchant partners across Canada, with over $1 billion in assets under management. For more information, visit www.financeit.io.
About SLC Management
SLC Management is a global institutional asset manager that offers institutional investors traditional, alternative and yield-orientated investment solutions across public and private fixed income markets, real estate equity and debt and infrastructure.
SLC Management is the brand name for the institutional asset management business of Sun Life Financial Inc. ("Sun Life") under which Sun Life Capital Management (U.S.) LLC in the United States, and Sun Life Capital Management (Canada) Inc. in Canada operate.
BentallGreenOak, InfraRed Capital Partners (InfraRed) and Crescent Capital Group (Crescent) are also part of SLC Management. BentallGreenOak is a leading, global real estate investment manager and a provider of real estate services. InfraRed is an international investment manager focused on infrastructure, managing equity capital in multiple private and listed funds. One of the longest tenured credit managers in the industry, Crescent is a leading global investor in mezzanine debt, middle market direct lending in the U.S. and Europe, high-yield bonds and broadly syndicated loans.
As of December 31, 2020, SLC Management has assets under management of C$303 billion (US$238 billion) including both third-party assets and Sun Life's general account.
For more information, please visit slcmanagement.com.
SOURCE Financeit
Alexandra Wassell, Pomp & Circumstance PR, Email: [email protected], Phone: 416-606-5143
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