Flexiti Announces New C$527 Million Term Securitization Facility, Bringing Funding Capacity to Over C$1 Billion

Flexiti Financial Inc., one of Canada’s leading “Buy Now, Pay Later” financial solutions providers, has announced that it has signed a new C$527 million securitization facility led by National Bank with financing also provided by an affiliate of Bank of Montreal and funds managed by Waterfall Asset Management. Combined with its pre-existing C$500 million revolving warehouse credit facility, Flexiti now has access to over C$1 billion in capital to fund its rapidly growing consumer receivables portfolio and help meet the increasing demand for BNPL loans from Canadian consumers.

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Flexiti now has access to over C$1 billion in capital to fund its rapidly growing consumer receivables portfolio and help meet the increasing demand for BNPL loans from Canadian consumers, read more:

“This is a critical milestone for Flexiti given the incredible growth we have been experiencing, with over C$125 million in new loans originated in November alone – that’s 4 times our volume from just 7 months ago.” said Peter Kalen, Founder and CEO of Flexiti. “This term securitization structure also broadens our banking relationships, lowers our cost of funds and strongly positions the Company to enter the public term ABS markets in the near future to provide efficient financing to support Flexiti’s rapid growth.”

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Founded in 2013 by Peter Kalen, Flexiti is a Toronto-based fintech company offering Canadian consumers 0% interest financing¹ solutions at the point of sale. Flexiti has experienced rapid growth since inception, originated over C$1.4 billion of loans and expanding its partner merchant network to over 7,500 retailers and ecommerce sites. Recently, Flexiti ranked 10^th on Deloitte’s Canada’s Technology Fast 50™ and 54^th on Deloitte’s 2021 North American Technology Fast 500™. Flexiti also ranked 13^th on The Globe and Mail’s third-annual ranking of Canada’s Top Growing Companies in 2021. Flexiti has been recognized on all three rankings for the last 3 years. In 2020, Flexiti ranked 29^th out of 500 on The Americas’ Fastest Growing Companies 2020 by the Financial Times and 3^rd on the 2020 Growth List by Canadian Business.

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