Flexiti is a fintech private-label credit card (PLCC) issuer founded in 2013 in Toronto, Canada by Peter Kalen. It offers point-of-sale financing to big-ticket retailers through private-label credit cards and a mobile application that enables customers to apply and receive approval within minutes without paperwork. The product requires minimal integration into existing POS systems, allowing retailers to scale across locations and sales channels and offer financing in-store and online. Flexiti positions its financing as a way to make purchases more affordable and to help merchant partners grow sales. The company is using new financing to fund future originations and support merchant growth while refinancing existing higher-cost debt. Flexiti Financial provides a point-of-sale (POS) financing and payment technology platform that enables instant financing on any device and instant credit approval in a few minutes. The company’s technology, algorithm and customer service let retailers offer customized payment plans at interest rates below current credit options. Flexiti is led by founder and CEO Peter Kalen. The solution is adopted in over 1,500 merchant locations and used by over 10,000 customers across Canada. The company closed an oversubscribed convertible debentures offering totaling $6.25M ($5.0M offering plus $1.25M in oversubscription). Proceeds will be used to accelerate growth and further develop its POS lending platform technology. Flexiti Financial is a Toronto, ON-based provider of point-of-sale financing and payment technology for retailers. Founded in 2013 by CEO Peter Kalen, it offers a credit technology and service platform that enables businesses to offer low- or no-interest financing, convert large purchases into monthly or deferred payment plans, and create a dedicated line of credit via a virtual private label card. The platform is used by over 5,000 customers in more than 1,000 locations across Canada. Flexiti raised $5M in a Series A round, with Globalive Capital making a follow-on investment. The company says it will use the funds to continue developing the technology behind its POS lending platform.

Total raised

$91M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Sep 2018