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


TORONTO, December 10, 2021– (BUSINESS WIRE) – Flexiti Financial Inc. (“Flexiti”), a leading provider of “Buy Now, Pay Later” (“BNPL”) financial solutions in Canada, today announced the signing a new CDN $ 527 million securitization facility contract led by National Bank with financing also provided by a subsidiary 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 more than C $ 1 billion of capital to fund its rapidly growing consumer debt portfolio and help meet demand. growing demand for BNPL loans from Canadian consumers.

“This is a critical milestone for Flexiti given the incredible growth we have experienced, with over C $ 125 million in new loans created in November alone – that’s 4 times our volume of business. only 7 months ago. Said Peter Kalen, Founder and CEO of Flexiti. “This term securitization structure also expands 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 effective funding to support the rapid growth of Flexiti. . “

Founded in 2013 by Peter Kalen, Flexiti is a Toronto-based financial technology company that provides 0% interest rate financing to Canadian consumers.1 point-of-sale solutions. Flexiti has grown rapidly since its inception, has granted more than C $ 1.4 billion in loans and has expanded its network of merchant partners to more than 7,500 retailers and e-commerce sites. Recently Flexiti ranked 10e on Deloitte Technology Fast 50 ™ and 54 in Canadae on the 2021 North American Technology Fast 500 ™ from Deloitte. Flexiti also ranked 13e on The Globe and Mail’s third annual ranking of Canada’s fastest growing companies in 2021. Flexiti has been recognized in all three rankings in the past 3 years. In 2020, Flexiti ranked 29e of 500 of the Americas’ Fastest Growing Companies 2020 by the Financial Times and 3e on the 2020 Growth List by Canadian Businesses.

Norton Rose Fulbright represented Flexiti in the transaction.

1 CAO terms and conditions apply.

About Flexiti
Flexiti is one of the fastest growing point-of-sale lenders in Canada. Thanks to its award-winning BNPL platform, customers can be instantly approved to buy with their FlexitiCard®, which they can use online or in-store to make multiple purchases, within their credit limit, without having to make a new one. request. Accepted in over 7,500 branches and e-commerce sites across Canada, including The Brick, Leon’s, Staples, Sleep Country, Wayfair, Birks and Peoples Jewelers, Flexiti is The Flexible Way to Pay ™ aimed at delivering payment solutions. flexible to all. Flexiti is a wholly owned subsidiary of CURO Group Holdings Corp. (NYSE: CURO). For more information, visit www.flexiti.com.

Source: CURO Group Holdings Corp. ; Flexiti

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Sydney stonier
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