Financeit Closes Minority Equity Financing Round

Financeit, a financial technology company offering a cloud-based point-of-sale financing platform, today announced the close of a minority equity financing round led by the Merchant Banking Division of Goldman Sachs.

Financeit’s lending platform enables merchants to increase revenue by offering their customers real-time consumer financing through fair and affordable monthly payment options.

“The point-of-sale finance space is in desperate need of better solutions for merchants, and fairer, more transparent financing options for consumers,” said Michael Garrity, CEO of Financeit.

Garrity says that the investment made by Goldman Sachs “gives us growth capital to put our leading-edge financing platform into the hands of more merchants.”

Financeit, founded in 2011, is focused on an accelerated growth strategy across Canada and the US.

The value of the transaction was not disclosed.