What is FinanceIt?
Founded in 2011 and headquartered in Toronto, Canada, FinanceIt specializes in offering point-of-sale financing services across diverse sectors including home improvement, recreational vehicles, and general retail. The company has carved out a significant market share by enabling businesses to offer flexible financing options directly at the point of purchase, thereby enhancing customer purchasing power and driving sales for merchants. Its strategic focus on these key industries has positioned it as a leader in the fintech space.
How much funding has FinanceIt raised?
FinanceIt has raised a total of $70M across 3 funding rounds:
Series A
$13M
Debt
$40M
Private Equity
$17M
Series A (2013): $13M with participation from IA Capital Group, TTV Capital, and Second City Capital
Debt (2014): $40M led by Pacific & Western Bank of Canada
Private Equity (2016): $17M supported by The Pritzker Organization and DNS Capital
Key Investors in FinanceIt
IA Capital Group
IA Capital Group is a New York-based private investment firm specializing in venture and growth capital investments across insurtech and fintech, partnering with innovative entrepreneurs.
TTV Capital
TTV Capital invests in fintech businesses serving the financial services sector, leveraging extensive venture capital and industry operating expertise to foster growth.
Second City Capital
Second City Capital Partners is a private equity firm targeting mid-market companies and distressed real estate assets, offering alternative investment solutions.
What's next for FinanceIt?
With a history of consistent capital acquisition, including Series A financing and private equity investment, FinanceIt appears poised for continued expansion. The company's ability to attract substantial investment, including debt financing, suggests a strong operational model and a clear path toward scaling its services. Future strategic initiatives are likely to focus on deepening its market penetration within existing verticals and potentially exploring new industry segments that can benefit from its robust financing platform. The sustained investor confidence points towards an aggressive growth phase.
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