The investment, which includes follow-on funding by Globalive Capital Inc., will further develop Flexiti Financial's award-winning POS lending platform
TORONTO, Nov. 2, 2016 /CNW/ - Flexiti Financial, a leading provider of point-of-sale (POS) financing and payment technology for retailers, is excited to announce the closing of a $5M investment which includes follow-on funding by Globalive Capital. This investment will allow Flexiti Financial to continue developing the technology behind the company's award-winning POS lending platform, which is currently used in over 1000 merchant locations across Canada.
"Flexiti Financial's mission is to be the leading provider of point-of-sale financing and payment solutions for retailers across Canada," says Peter Kalen, Founder and CEO, Flexiti Financial. "We have built one of the most advanced POS lending platforms in North America, and this investment allows us to accelerate our growth and further invest in our technology to ensure we're offering the quickest and easiest solution to our merchant partners, allowing them to offer more flexible sales and financing solutions to their customers."
Flexiti Financial's credit technology and service platform allows businesses to instantly offer their customers low or no-interest financing, convert large purchases into monthly or deferred payment plans and establish a dedicated line of credit by creating a virtual private label card. The result: increased traffic, more sales and a boost to the business's bottom line.
"Canadian consumers and businesses are looking for alternative financing options tailored to their lifestyle or business needs and we believe Flexiti Financial's technology is uniquely positioned to capitalize on this growing market demand," says Anthony Lacavera, Chairman, Globalive Capital Inc. "Flexiti Financial aligns with Globalive Capital's core principle of finding companies and entrepreneurs that are breaking down barriers and challenging the status quo, and providing them with the resources they need to accelerate growth."
About Flexiti Financial
Flexiti Financial is a Canadian sales financing company founded in 2013. We help retail businesses increase sales by providing instant consumer financing at the Point-of-Sale (POS), with higher approval rates and superior customer service compared to other providers. Using Flexiti Financial's award-winning mobile application process, customers can apply for financing and receive approval within minutes – no paperwork, no scanning and mailing, plus retailers get paid within two business days. Today, over 5000 customers use Flexiti financing in 1000+ locations across Canada. Flexiti Financial is backed by some of Canada's leading investors including Globalive Capital Inc. For more information, visit www.flexitifinancial.com.
About Globalive Capital
Globalive Capital is the investment company of Anthony Lacavera and his team including Brice Scheschuk, Simon Lockie and David Roff. The partners have a combined 80 years of operating and investing experience and have founded or co-founded and operated 13 companies including WIND Mobile, which was sold to Shaw Communications for $1.6 billion. Globalive Capital invests principal capital in multiple asset classes including venture, private equity, real estate and infrastructure. The company has made over 75 investments and is well-known as a strategic, entrepreneur friendly investor. For more information, visit www.globalive.com.
SOURCE Flexiti Financial
Image with caption: "Flexiti Financial logo (CNW Group/Flexiti Financial)". Image available at: http://photos.newswire.ca/images/download/20161102_C3713_PHOTO_EN_809392.jpg
Image with caption: "Peter Kalen, Founder and CEO Flexiti Financial (CNW Group/Flexiti Financial)". Image available at: http://photos.newswire.ca/images/download/20161102_C3713_PHOTO_EN_809394.jpg
For further information: Media Contact: Jason Kinnear, [email protected], 647-291-8026