Financeit, a Toronto, CA-based fintech company offering a point-of-sale financing platform, closed a minority equity financing round of undisclosed amount.
The round was led by the Merchant Banking Division of Goldman Sachs.
The company intends to use the use the funds to accelerate growth strategy across Canada and the US.
Led by Michael Garrity, Co-founder and CEO, Financeit leverages mobile and cloud-based technologies to enable merchants to offer real-time consumer financing through monthly payment options.
Since launching in 2011, the company has signed up more than 4,000 merchant partners and received more than $1 billion in loan applications.