TORONTO, Aug. 1, 2017 /CNW/ - Flexiti Financial, a leading provider of point-of-sale (POS) financing and payment technology for retailers, is pleased to announce the closing of an oversubscribed $5M convertible debentures offering. Oversubscription amounts totaled an additional $1.25M of aggregate principal, for a total investment of $6.25M. These funds will allow Flexiti Financial to accelerate its rapid growth and further develop the company's award-winning POS lending platform technology, which is currently adopted in over 1,500 merchant locations and used by over 10,000 customers across Canada.
"Retailers across Canada are looking for unique solutions to increase sales and maintain customer loyalty in a highly competitive and shifting market," says Peter Kalen, Founder and CEO, Flexiti Financial. "Flexiti Financial's POS lending platform has become an important tool in their sales arsenal, and this investment will help us better serve our retail partners while managing our growth across Canada."
Flexiti Financial's award-winning POS financing platform provides instant financing on any device, anywhere, and instant credit approval in three minutes. Flexiti Financial's unique technology, advanced algorithm and customer service allow retailers to offer customized payment plans at interest rates significantly below current credit options on the market, and confidently approve more people than a typical financial institution.
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 10,000 customers use Flexiti financing in over 1,500 locations across Canada. The company was named Best Emerging Consumer Lending Platform by LendIt, which recognizes Flexiti Financial's platform as having the greatest potential to impact the future of consumer lending. Flexiti Financial is backed by some of Canada's leading investors including Globalive Capital Inc. For more information, visit www.flexitifinancial.com.
SOURCE Flexiti Financial
For further information: Media Contact: Jason Kinnear, [email protected], 647-291-8026