Financeit Sets Another Canadian First with C$201 Million Term ABS Transaction Backed by Home Improvement Loans
Financeit (“Financeit” or “the Company”), the leading Canadian provider of point-of-sale financing in the home improvement sector, is pleased to announce the closing of its first term asset-backed securitization (“ABS”) transaction by issuing series 2026-1 notes (the “Notes”) through its wholly owned securitization vehicle, Financeit Securitization Limited Partnership. Under the transaction, the Company issued approximately C$201 million of investment-grade rated Notes, which were placed to institutional investors in both Canada and the United States. While home improvement ABS transactions are well established in the United States, this Term ABS Transaction is a Canadian first.
“This transaction is an important milestone for Financeit and is a testament to the maturation, scale, and performance of our platform,” said Casper Wong, Co-Founder and CEO of Financeit. “Over the last four years, we have grown at a 33% compounded annual growth rate, fueled by strong execution in our home improvement business and continued expansion across multiple verticals. We expect 2026 to be another record year, with annual loan originations approaching $2 billion. Completing our first term ABS transaction demonstrates that Financeit has reached a level of sophistication and institutional credibility that enables us to access the capital markets efficiently to support our next phase of growth.”
The Notes are rated by Morningstar DBRS, with the rating on the Notes ranging from AAA(sf) to BBB(low)(sf). Goldman Sachs & Co. LLC acted as structuring and joint lead placement agent on the transaction while CIBC Capital Markets acted as joint lead placement agent and BMO Capital Markets was co-manager.
“Our transaction was incredibly well received by large Canadian and US institutional investors,” said David Yeilding, CFO of Financeit, adding: “Issuing notes in the Term ABS market is a key part of our capital strategy and allows us to continue to enhance and optimize our funding structure and, together with pre-existing lending facilities, provides the Company with approximately C$2.5 billion in annual loan funding capacity.”
McCarthy Tétrault LLP and Chapman and Cutler LLP advised the Company on the transaction.
About Financeit
Financeit Canada Inc. is a leading provider of point-of-sale financing solutions for the home improvement, recreational vehicles, and retail sectors. Founded in 2011, the company helps people make major purchases more affordable through simple, fair, and flexible payment plans offered by enterprise businesses, big box retailers, OEMs, and dealer networks. Financeit has over 10,000 dealers coast to coast, has funded over $10 billion in total loans since inception, and serviced nearly 1 million Canadians. Financeit’s cloud-based technology empowers merchants to increase close rates and transaction sizes with plain-language loan terms, no prepayment penalties, and built-in customer protection that releases funds only when customers are satisfied, while ensuring a transparent and efficient loan application process that supports merchant partners across Canada. Trusted by merchants and financial institutions and backed by rigorous onboarding, oversight, and risk management. For more information, visit www.financeit.io.
Source : Financeit
