About Financeit
Financeit is a company based in Toronto (Canada) founded in 2011 was acquired by Wafra Capital Partners in February 2022.. Financeit has raised $41.9 million across 11 funding rounds from investors including Goldman Sachs, FIS and FinSight. Financeit has completed 4 acquisitions, including Centah, Financeit and Simply Group. Financeit offers products and services including Payment Calculator, Loan Application Platform, and Promotional Materials. Financeit operates in a competitive market with competitors including Tabby, Affirm, Afterpay, Zip and Klarna, among others.
- Headquarter Toronto, Canada
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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
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- 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
$41.9 M (USD)
in 11 rounds
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Latest Funding Round
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Investors
Goldman Sachs
& 9 more
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Employee Count
Employee Count
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Investments & Acquisitions
Centah
& 3 more
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Acquired by
Wafra Capital Partners
(Feb 11, 2022)
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Products & Services of Financeit
Financeit offers a comprehensive portfolio of products and services, including Payment Calculator, Loan Application Platform, and Promotional Materials. 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.
Tool for calculating loan payments and options for customers
Platform to submit and manage loan applications online
Resources for businesses to promote financing deals
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Funding Insights of Financeit
Financeit has successfully raised a total of $41.9M across 11 strategic funding rounds. 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 11
- Last Round Last Round
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First Round
First Round
(03 Mar 2011)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2017 | Amount | Series C - Financeit | Valuation | Goldman Sachs |
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| Jun, 2017 | Amount | Debt – Conventional - Financeit | Valuation |
investors |
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| Oct, 2016 | Amount | Series B - Financeit | Valuation | DNS Capital , The Pritzker Organization |
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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 10 investors, including venture fund and institutional investors. Prominent investors backing the company include Goldman Sachs, FIS and FinSight. 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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Investment banking services are delivered across multiple financial sectors.
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Founded Year | Domain | Location | |
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US private equity investments are managed by DNS Capital.
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Founded Year | Domain | Location | |
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Growth-equity investments are managed by the private investment firm.
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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
Financeit has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Centah, Financeit and Simply Group. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| 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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Home loan financing services are provided to residential clients.
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2020 | ||||
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Point-of-sale financing is offered for home improvement and retail sectors.
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2006 | ||||
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SaaS workflow management solutions are delivered for commercial spaces.
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2004 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
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
Financeit operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Tabby, Affirm, Afterpay, Zip and Klarna, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Purchase financing solutions are offered to businesses via installment payments.
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| domain | founded_year | HQ Location |
Point-of-sale financing is facilitated via an online installment payment platform.
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| domain | founded_year | HQ Location |
A buy now pay later service is offered by Afterpay.
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| domain | founded_year | HQ Location |
Payment solutions are provided for deferred purchasing by Zip.
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| domain | founded_year | HQ Location |
Point-of-sale financing is facilitated through an online platform for purchases.
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| domain | founded_year | HQ Location |
Point-of-sale financing is provided for various consumer products via installments.
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| 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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Latest news on Financeit
Frequently Asked Questions about Financeit
When was Financeit founded?
Financeit was founded in 2011.
Where is Financeit located?
Financeit is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Is Financeit a funded company?
Financeit is a funded company, having raised a total of $41.9M across 11 funding rounds to date. The company's 1st funding round was a Series B of $17M, raised on Mar 03, 2011.
What does Financeit do?
Financeit was established in 2011 in Toronto, Canada, within the consumer financing sector. Point-of-sale financing solutions are provided to customers purchasing from partnered businesses. Pre-approvals are conducted based on credit reports, with payments facilitated through pre-authorized plans. Interest rates are determined by payment plan size, credit report details, and the nature of the purchased product or project. Operations focus on enabling accessible financing options across various retail and service sectors.
Who are the top competitors of Financeit?
What products or services does Financeit offer?
Financeit offers Payment Calculator, Loan Application Platform, and Promotional Materials.
How many acquisitions has Financeit made?
Financeit has made 4 acquisitions, including Centah, Financeit, and Simply Group.
Who are Financeit's investors?
Financeit has 10 investors. Key investors include Goldman Sachs, FIS, FinSight, B.E.S.T. Funds, and DNS Capital.
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