Flexiti Financial, a Toronto, ON, Canada-based provider of point-of-sale (POS) financing and payment technology for retailers, raised $5M in funding.
Globalive Capital made a follow-on investment.
The company intends to use the funds to continue developing the technology behind its POS lending platform.
Founded in 2013 by Peter Kalen, CEO, Flexiti Financial provides a credit technology and service platform platform which allows businesses to instantly offer their customers low or no-interest financing, convert large purchases into monthly or deferred payment plans and establish a dedicated line of credit by creating a virtual private label card.
It is currently used by over 5000 customers in over 1000 locations across Canada.