Flexiti Reaches $2 Billion in Loan Originations

Rhea-AI Summary

Flexiti Financial Inc. has reached a significant milestone by surpassing $2 billion in lifetime loan originations, doubling its figures in under a year. The company accomplished this after achieving $1 billion in July 2021. Flexiti, a leading point-of-sale financing solution, serves over 8,000 retailers, including major brands like The Brick and Staples. Notably, the firm has also expanded its workforce to over 450 employees, reflecting its rapid growth and commitment to enhancing customer and retailer experiences.

Positive

• Doubled loan originations to over $2 billion in under a year.
• Increased workforce to over 450 employees, indicating business expansion.
• Listed as one of Canada's fastest-growing companies since 2019.

Negative

• None.

Rapidly growing Canadian fintech brand doubles loan volume in under a year

TORONTO--(BUSINESS WIRE)-- Flexiti Financial Inc. (“Flexiti”), a leading point-of-sale consumer financing solution for retailers, is pleased to announce that the company has reached $2 billion in lifetime originations. The milestone has been achieved after the company reached $1 billion in total loan originations in July 2021.

Flexiti’s award-winning platform provides customers and merchants with fast and easy-to-use point-of-sale service by instantly approving shoppers in-store and online for 0% interest¹ financing on purchases within their credit limit (and without needing to reapply).

In addition to this rapid growth in sales volume, Flexiti has more than doubled its number of full-time employees to over 450 people across all functions.

Flexiti’s rapid growth has resulted in the company being listed as one of Canada’s fastest growing businesses since 2019.

“When I founded Flexiti in 2013, we set out to revolutionize how sales financing is done in the retail environment,” said Peter Kalen, Founder and CEO of Flexiti. “Taking seven years to reach our first $1 billion in sales volume and only eleven months to surpass the $2 billion mark, is a testament to the need for payment choice when customers make purchases to fit their lifestyle and budget,” he added.

“Flexiti really owes this significant growth to our Flexiteers,” said Kalen. “I would like to thank them for their relentless dedication and vision in creating customer and retailer-centric solutions that routinely position the company for solid financial growth.”

¹ O.A.C. Terms and conditions apply.

About Flexiti

Flexiti provides flexible financing to help customers make important purchases. Available at a network of over 8,000 top-tier retail locations and e-commerce sites, including The Brick, Wayfair.ca, Sleep Country, Staples and Birks, Flexiti’s award-winning sales financing platform provides customers and merchants alike with seamless point-of-sale service. Flexiti users can be instantly approved in-store and online to receive 0% interest financing on purchases within their credit limit without needing to reapply. Helping Canadians secure over $2B in flexible financing, Flexiti is Canada’s fastest growing sales financing provider. In 2021, Flexiti ranked 10^th on Deloitte’s Canada’s ‘Technology Fast 50™,’ 54^th on Deloitte’s North American ‘Technology Fast 500™,’ and ranked 13^th on The Globe and Mail’s ‘Canada’s Top Growing Companies.’ Flexiti is a wholly-owned subsidiary of CURO Group Holdings Corp. (NYSE: CURO). For more information on Flexiti's service offering and growing Flexiti Network™, visit www.flexiti.com.

(CURO-NWS)

Source: CURO Group Holdings Corp.; Flexiti

View source version on businesswire.com: https://www.businesswire.com/news/home/20220622005214/en/

MEDIA

media@flexiti.com

Source: CURO Group Holdings Corp. and Flexiti

FAQ

What is CURO's relationship to Flexiti Financial Inc.?

Flexiti is a wholly-owned subsidiary of CURO Group Holdings Corp. (NYSE: CURO).

When did Flexiti Financial Inc. reach $1 billion in loan originations?

Flexiti reached $1 billion in loan originations in July 2021.

How many employees does Flexiti currently have?

Flexiti has over 450 employees.

What are Flexiti's total loan originations as of now?

Flexiti's total loan originations have surpassed $2 billion.

Where can Flexiti's financing solutions be accessed?

Flexiti's financing solutions are available at over 8,000 retail locations and e-commerce sites across Canada.