June 8, 2017
Financeit announces new funding capacity of up to $85 million
Up to $85 million in combined loan purchase and warehouse capacity provided to support Financeit's expanding consumer financing program
TORONTO -- Financeit has closed a $75 million renewable securitization facility and a $10 million warehouse facility with a major Canadian life insurance company.
With the addition of this underwriting capacity, the company is well positioned to execute on its growth strategy over the coming year.
"We have a history of managing successful securitization programs, and we're thrilled to be launching this new partnership," said Casper Wong, COO of Financeit. "We see this as the natural evolution of our growth and a major milestone. The company is a known leader in this space and we're proud to be working with them."