Flexiti Financial offers point-of-sale financing and payments technologies for its retail clients, and with $5 million in new funding, the company is set to expand across Canada.
The firm announced Wednesday (Nov. 2) that it nabbed the new investment from Globalive Capital. According to Flexiti, its POS financing solution allows retailers to offer their consumer and business customers a new way to pay by offering financing, monthly or deferred payment plans or lines of credit via virtual, private-label credit cards.
“Canadian consumers and businesses are looking for alternative financing options tailored to their lifestyle of business needs, and we believe Flexiti Financial’s technology is uniquely positioned to capitalize on this growing market demand,” said Globalive Capital Chairman Anthony Lacavera in a statement. “Flexiti Financial aligns with Globalive Capital’s core principle of finding companies and entrepreneurs that are breaking down barriers and challenging the status quo and providing them with the resources they need to accelerate growth.”
The funding round will be used to focus on strengthening the technology behind Flexiti’s POS financing platform. In another statement, Flexiti Founder and CEO Peter Kalen said the solution is “one of the most advanced POS lending platforms in North America.”
The new funding “allows us to accelerate our growth and further invest in our technology to ensure we’re offering the quickest and easiest solution to our merchant partners, allowing them to offer more flexible sales and financing solutions to their customers,” he added.
Flexiti noted that offering flexible financing at the point of sale for consumer and business customers means higher traffic and sales and a larger bottom line.