September 29, 2016
Merchant Advance Capital Partners With EVO Payments International
Alternative lender to offer collateral-free financing for EVO's merchant base
MONTREAL, QUEBEC -- Merchant Advance Capital, a leading online business lender, is pleased to announce its partnership with global payments processor and acquirer EVO Payments International. The companies have joined forces to provide a technology-powered option for obtaining collateral-free financing for EVO's significant merchant base of small- to medium-sized businesses across Canada.
Both companies have built strong reputations on pioneering systems currently used by Canadian merchants. "This relationship will be hugely impactful for our clients who have often voiced a desire for a simple and convenient funding solution," EVO Canada GM and COO Kevin Lavigne says. "We've integrated our systems with Merchant Advance Capital to ensure our merchants enjoy a streamlined, tailored experience so they can get back to doing what they do best -- running their business."
EVO's strong brand identity and reputation for best-in-class products and services is grounded in its commitment to innovation. It was the first processor to introduce automated onboarding of merchants, similar to Merchant Advance Capital's proprietary 'Merchant Score,' which was put into practice earlier this year to assess creditworthiness electronically.
The amalgamation of both companies' tech resources is exciting news for Canada's fintech scene, which has been the subject of significant media coverage in recent months. As Merchant Advance Capital's founder and CEO David Gens notes, "The industry has exploded in the last couple of years. 'Fintech' is a word you just didn't hear ten years ago."
"With the technology we've built, I think we have an opportunity to make a meaningful impact on the Canadian landscape to offer convenient alternative financing options the market's never seen before. Our partnership with EVO is instrumental for us in reaching that goal," Gens adds.