Point-of-sale customer financing solution Financeit expanded its team this week. The Toronto-based company brought on Ian Hanning from Capital One Canada as its new chief financial officer.

Hanning comes to Financeit after having served for five years as Capital One Canada’s CFO; he has 20 years of experience in managing finance teams across the United Kingdom and Canada. Prior to taking the CFO position at Capital One Canada, Hanning held various senior leadership positions within the bank. In a press release Michael Garrity, founder and CEO of Financeit, said that Hanning “will be a great asset to our company as we expand our loan portfolio and grow our business.”

This news comes weeks after Financeit’s acquisition of TD Bank’s indirect home-improvement financing assets, in conjunction with wholesale finance and trust solution provider, Concentra. Through the partnership, 800 merchant dealers will transition to Financeit.

At FinovateFall 2014 Financeit launched in the U.S. in partnership with FIS. Since its founding in 2011, Financeit has received more than $1.5 billion in loan applications from 5,400+ merchant partners. In August 2016, Financeit introduced Financeit Direct, a direct-to-consumer financing platform that allows customers to complete loan applications on their mobile devices. In fall 2015, the company closed on an undisclosed amount of funding from Goldman Sachs, bringing its funding to more than $22 million. Financeit planned to use the funding to add to its merchant partner base, which at the time was at 4,000.

Financeit Direct is a new, direct-to-consumer financing platform from Financeit that transforms traditional point-of-sale financing into a mobile-enabled, paperless process that works for small- and medium-sized business.

“Throughout beta testing, merchants described Financeit Direct as a revolutionary tool that can be customized for their work schedules and routines,” Financeit founder and CEO Michael Garrity said. “Consumers love the quick and easy application process and the added privacy and security, along with Financeit’s competitive interest rates.”

(Left to right): COO Casper Wong, CTO Paul Sehr, and CEO and founder Michael Garrity demonstrated Financeit at FinovateFall 2014.

Financeit Direct allows customers to use their mobile devices to complete financing applications by uploading documentation such as a voided check or a pay stub. Customers can review rates and get instant credit decisions via their mobile device as well. Calling Financeit Direct “the first point-of-sale financing platform to take full advantage of the mobile revolution,” Financeit CTO Paul Sehr said the technology was already seeing “huge traction” among beta testers, most of whom have begun to use the platform for financing “big-ticket purchases.”

Founded in 2011, Financeit announced the launch of its U.S.-compliant platform at FinovateFall 2014 and demonstrated the technology in partnership with fellow Finovate alum, FIS. The company has processed more than $1.5 billion in loans from more than 5,000 merchant partners since inception. Financeit is headquartered in Toronto, Ontario, Canada, and has raised more than $21 million in funding. In June, it announced an agreement with ClearFlow for a $30 million credit facility. The company’s COO, Casper Wong, was featured in Notable this spring.