Our Toronto, Montreal, Austin and New York offices advised Flexiti Financial Inc. (Flexiti) on a C$527m securitization facility led by National Bank with financing also provided by a Bank of Montreal affiliate and Waterfall Asset Management. This transaction gives Flexiti, a wholly-owned subsidiary of CURO Group Holdings Corp., access to over C$1bn in capital when combined with its pre-existing C$500m revolving warehouse credit facility. The additional capital will allow Flexiti to support its rapid growth and fund the increased demand for “Buy Now, Pay Later” (BNPL) loans from Canadian consumers.

Flexiti is a Toronto-based FinTech company offering Canadian consumers 0% interest financing at the point of sale on big-ticket goods like furniture, appliances, jewellery and electronics, and is one of Canada’s leading BNPL financial solutions provider. Flexiti ranked tenth on Deloitte’s 2021 Canada’s Technology Fast 50 list and 54th on the North American Technology Fast 500, a program which recognizes the fastest-growing technology companies with the highest revenue-growth percentage over the previous four years.