American investment bank Goldman Sachs has acquired a majority stake in Canadian alternative lender Financeit for an undisclosed sum.
Upon completion of second round of investment, Goldman Sachs became majority owner of Financeit.
Go deeper with GlobalData
Toronto-based Financeit mainly helps small- and medium-sized business offers point-of-sale loans to customers.
Financeit will use the fund to snap up Centah, a US-based provider of cloud-based software assistance and call centre support in the home improvement industry.
Takeover of Centah will enable Financeit to provide a number of services to the home improvement sector including both loans and lead generation.
Since starting in 2011, Financeit has worked with more than 7000 merchant partners, and processed over $1.9bn in loan applications.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
