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Financeit Brings in $13 Million in Series A Funding


In 2011, Financeit began providing point-of-sale funding options for small businesses to offer their customers. Today it announced it has raised $13 million to bolster this unique business model.

Investors include:

    • TTV Capital
    • Inter-Atlantic Group
    • Second City Capital

The Toronto-based company, which has almost 3,000 merchants processing more than $500 million in loan applications on its platform in Canada, will use the funds to begin its expansion into the U.S.

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At FinovateFall 2013, Financeit launched its platform on the iPad, which enables merchants to capture customer information by photographing the customer’s drivers license using a tablet or smartphone. Check out the demo video here.