Finance News

Flexiti Reaches C$1 Billion in Loan Book

Flexiti Reaches C$1 Billion in Loan Book

This financial milestone represents 118% growth YOY

Flexiti Financial Inc., a leading point-of-sale consumer financing solution for retailers, is pleased to announce that the company has reached C$1 billion in loan book (“receivables”) and has also surpassed C$1 billion in new originations to date in 2022, doubling total originations achieved in Flexiti’s first seven years of operation.

Since inception in 2013, Flexiti has experienced rapid growth. Earlier this year, the company announced it had reached $2 billion in lifetime originations and had doubled its net sales in under a year. To date, the company has welcomed over 8,000 retail locations and 1.9 million customer accounts to the Flexiti NetworkTM. In September of this year, it was named one of Canada’s Top Growing Companies by The Globe and Mail for the fourth consecutive year, solidifying its position as one of Canada’s fastest growing fintech companies.

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“We would like to thank our dedicated team, whose unwavering commitment has allowed us to create a best-in-class suite of products and quality service for our merchant partners,” commented Peter Kalen, founder and CEO of Flexiti. “This milestone is a major step on our path towards becoming Canada’s leader in retail payment partnerships and speaks to our reliability and stability as a prospering Canadian fintech company. Further, we have been able to achieve this growth with a high degree of fiscal discipline.”

Kalen added, “While it is important to celebrate how far we have come, we are just getting started. We look forward to continuing to build out our platform and network of merchant partners to provide even more flexible financing solutions to support them and the needs of their customers.”

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Flexiti’s award-winning platform provides customers and merchants with fast and easy-to-use point-of-sale service by instantly approving shoppers in-store and online for 0% interest1 financing on purchases within their credit limit (and without needing to reapply).

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