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Financeit Closes Undisclosed Amount of Funding from Goldman Sachs

Financeit Closes Undisclosed Amount of Funding from Goldman Sachs

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Canada-based Financeit, a company that offers cloud-based POS financing, closed an undisclosed amount of funding today.

Goldman Sachs led the round, and the amount furnished is undisclosed.

The company’s last round of funding, an installment of $13 million, was received in November 2013. This brought the company’s total amount raised to $21.5 million. Today’s undisclosed amount brings the company’s total funding somewhere north of that amount.

According to the press release, Financeit plans to use the funds to add to its merchant partner base of 4,000. Co-founder and CEO Michael Garrity states, “The minority investment made by Goldman Sachs gives us growth capital to put our leading-edge financing platform into the hands of more merchants.”

Last year, in partnership with FIS, Financeit launched in the United States. Check out the launch video here. In its four years of operation across the two countries, Financeit has received more than $1 billion in loan applications.