Flexiti Reaches C$1 Billion in loan book

Rhea-AI Summary

Flexiti Financial Inc. announces a significant milestone, achieving C$1 billion in loan book and C$1 billion in new originations for 2022, marking 118% year-over-year growth. Founded in 2013, Flexiti has doubled its origination figures, welcoming over 8,000 retail locations and 1.9 million customer accounts. Recognized as one of Canada's Top Growing Companies for four consecutive years, Flexiti aims to strengthen its retail partnerships while maintaining fiscal discipline.

Positive

• Achieved C$1 billion in loan book and in new originations, marking 118% growth YOY.
• Doubled total originations since inception, reaching $2 billion in lifetime originations.
• Welcomed over 8,000 retail locations and 1.9 million customer accounts.
• Named one of Canada's Top Growing Companies for four consecutive years.

Negative

• None.

This financial milestone represents 118% growth YOY

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 C$1 billion in loan book (“receivables”) and has also surpassed C$1 billion in new originations to date in 2022, doubling total originations achieved in Flexiti’s first seven years of operation.

Since inception in 2013, Flexiti has experienced rapid growth. Earlier this year, the company announced it had reached $2 billion in lifetime originations and had doubled its net sales in under a year. To date, the company has welcomed over 8,000 retail locations and 1.9 million customer accounts to the Flexiti Network^TM. In September of this year, it was named one of Canada’s Top Growing Companies by The Globe and Mail for the fourth consecutive year, solidifying its position as one of Canada’s fastest growing fintech companies.

“We would like to thank our dedicated team, whose unwavering commitment has allowed us to create a best-in-class suite of products and quality service for our merchant partners,” commented Peter Kalen, founder and CEO of Flexiti. “This milestone is a major step on our path towards becoming Canada’s leader in retail payment partnerships and speaks to our reliability and stability as a prospering Canadian fintech company. Further, we have been able to achieve this growth with a high degree of fiscal discipline.”

Kalen added, “While it is important to celebrate how far we have come, we are just getting started. We look forward to continuing to build out our platform and network of merchant partners to provide even more flexible financing solutions to support them and the needs of their customers.”

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).

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 one of Canada’s fastest growing sales financing providers. In 2022, Flexiti was named one of Canada’s Top Growing Companies for the fourth consecutive year. 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 ‘2021 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221122005227/en/

MEDIA

media@flexiti.com

Source: CURO Group Holdings Corp. and Flexiti

FAQ

What milestone did Flexiti Financial achieve in 2022 regarding loan book and originations?

Flexiti Financial achieved C$1 billion in loan book and C$1 billion in new originations in 2022.

How much growth did Flexiti Financial report year-over-year?

Flexiti Financial reported a 118% growth year-over-year.

How many retail locations are part of the Flexiti Network?

Flexiti has welcomed over 8,000 retail locations in its network.

What recognition did Flexiti receive in 2022?

Flexiti was named one of Canada's Top Growing Companies for the fourth consecutive year.

What is the total amount of lifetime originations Flexiti has achieved since its inception?

Flexiti has achieved $2 billion in lifetime originations since its inception.