Financeit
Company

Last deal

$364.35M
Local Amount - CAD 500M

Amount

Debt Financing

Stage

17.06.2024

Date

3

all rounds

$425.75M

Total amount

date founded

Financing round

General

About Company
Financeit simplifies complex sales transactions for businesses and their customers with a comprehensive suite of tools and technologies.

Industry

Sector :

Subsector :

Also Known As

communitylend

founded date

01.02.2007

Number of employees

Company Type

For Profit

Last funding type

Debt Financing

IPO status

Private

Description

The company's point-of-sale financing platform enables businesses of all sizes to close more sales by offering affordable monthly payment options for home improvements, vehicles, and retail purchases. For larger enterprises, Financeit provides an integrated suite of home improvement solutions, including leads and workflow management, live contact agents, financing and promotions, performance assurance, and category development. With over 8,000 merchant partners and $5 billion in loan applications processed, Financeit was named Canadian Lenders Association's 2019 Company of the Year in Lending.
Contacts

Contact Email

Phone number

Social url

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M&A Details
1

Acquired by

Goldman Sachs

announced date

14.12.2017

Financials

Funding Rounds
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3

Number of Funding Rounds

$425.75M

Money Raised

Their latest funding was raised on 17.06.2024. Their latest investor CIBC. Their latest round Debt Financing

Date 
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2
$364.35M
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Acquisitions
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People

Founders
3
Casper Wong
Casper Wong

Casper Wong

Casper is a co-founder and the COO of Financeit. Financeit facilitates better commerce by allowing businesses to offer fair and transparent payments plans to their customers anywhere. Since launching in early 2011, Financeit has signed up thousands of merchant Partners that process billions in sales per year through the platform. As COO, Casper has worn many different hats over the years and has been instrumental in scaling the business. Prior to this, Casper was with goeasy, where he was responsible for business development and launching their lending business - easyfinancial. Casper joined easyhome after working in investment banking on the Mergers & Acquisitions team at BMO Capital Markets. Casper also sits on the boards of ZayZoon and Dwello.

current job

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2

Casper Wong

Paul Sehr
Paul Sehr

Paul Sehr

Paul has worked on and led many unique projects since graduating from one of Canada’s top computer engineering faculties,ECE at UofT. Previously he wore the entrepreneur’s hat as Partner & CTO of MomentVille, an online wedding website and planning service with hundreds of thousands of monthly users. More recently, Paul was a consultant at Form & Method, Toronto’s elite shop for cutting-edge web & mobile development work and our longtime development partner. After joining the team, Paul built the original version of Financeit and has been in charge of the company's technical architecture and development ever since.

current job

Financeit
Financeit

organization founded

1

Paul Sehr

Michael Garrity
Michael Garrity

Michael Garrity

Michael Garrity is the Founder and CEO of Financeit, a Goldman Sachs backed leader in the POS financing industry. For the past 20 years, Michael has been devoted to driving growth in businesses innovating financial services. Prior to co-founding Financeit, Michael was the Founder and CEO of CommunityLend, Canada's first peer-to-peer lending service. Before his journey into financing, Michael was the VP of Sales and Marketing at epost, a pioneer in electronic billing. Under his leadership, they built a network of more than 3 million online users with 100 of the country's largest companies, including every major financial institution in Canada. Michael started his career in his area of study - politics⁠, working in Ottawa as a Legislative and Special Assistant to several members of Parliament at the House of Commons. He earned his B.A. in Political Science and Economics from Carleton University and the University of Manitoba.

current job

Financeit
Financeit

count Of Investments

1

count Of Exists

1

Michael Garrity

Employee Profiles
91

Darek Deszczynski

Senior data engineer

Kristi Doughty

Director of quality assurance

Marissa Maclellan

Engineering lead

Jeff Schreiber

U.s director of risk management

Kevin Carmona-Murphy

Software developer

Sanjida Haque

Underwriter

Connor Jakes

Devops engineer

Ida Srnic

Regional sales manager

Activity

Recent News
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