About Financeit
Financeit is a company based in West Des Moines (United States) founded in 2006 was acquired by Financeit in June 2023. It operates as a FinTech, and Commission-Based. Financeit has raised $73.09 million across 3 funding rounds from investors including FFL Partners, Financeit and Simply Green Home Services. Financeit offers products and services including Point-of-Sale Financing and Consumer Loans.
- Headquarter West Des Moines, United States
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Financeit Canada Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$73.09 M (USD)
in 3 rounds
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Latest Funding Round
$6.09 M (USD), Series B
Sep 30, 2014
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Investors
FFL Partners
& 2 more
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Employee Count
Employee Count
- Acquired by
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Products & Services of Financeit
Financeit offers a comprehensive portfolio of products and services, including Point-of-Sale Financing and Consumer Loans. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Financing solutions are provided for home improvement purchases.
Loans are offered to consumers for various needs.
Funding Insights of Financeit
Financeit has successfully raised a total of $73.09M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $6.09 million completed in September 2014. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $6.1M
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First Round
First Round
(04 Sep 2013)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2014 | Amount | Series B - Financeit | Valuation |
investors |
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| May, 2014 | Amount | Private Equity Round - Financeit | Valuation |
investors |
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| Sep, 2013 | Amount | Series A - Financeit | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Financeit
Financeit has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include FFL Partners, Financeit and Simply Green Home Services. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Lower middle market investments are targeted by FFL Partners.
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Founded Year | Domain | Location | |
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Energy-efficient HVAC systems are provided by Simply Green Home Services.
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Founded Year | Domain | Location | |
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Consumer financing is offered at point-of-sale for partnered businesses.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Financeit
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Financeit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Financeit Comparisons
Competitors of Financeit
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Financeit
When was Financeit founded?
Financeit was founded in 2006 and raised its 1st funding round 7 years after it was founded.
Where is Financeit located?
Financeit is headquartered in West Des Moines, United States. It is registered at West Des Moines, Iowa, United States.
Is Financeit a funded company?
Financeit is a funded company, having raised a total of $73.09M across 3 funding rounds to date. The company's 1st funding round was a Series A of $3M, raised on Sep 04, 2013.
What does Financeit do?
Financeit is engaged in offering point-of-sale financing solutions across Canada, focusing on the home improvement, recreational vehicle, and retail sectors. Financing services are extended to merchants and consumers to facilitate purchases and business growth. The company has recently expanded through the acquisition of Simply Group Financial, SNAP Home Finance, and EcoHome Financial, enhancing its market presence. Innovative projects and improved experiences for dealers and end-users are prioritized in its operations.
What products or services does Financeit offer?
Financeit offers Point-of-Sale Financing and Consumer Loans.
Who are Financeit's investors?
Financeit has 3 investors. Key investors include FFL Partners, Financeit, and Simply Green Home Services.
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