BEST Funds

BEST Funds


November 13, 2014 11:49 ET

Best Funds Announces Debt-Deal With Financeit

Canadian Venture Capital Firm Finalizes Investment Into Consumer Financing Software Company

TORONTO, ONTARIO--(Marketwired - Nov. 13, 2014) - Toronto-based venture capital firm BEST Funds has just announced that it has secured an investment into Financeit - a platform that enables businesses to offer consumer financing to their customers from any device. This capital from BEST Funds will aid Financeit's future expansions and growth in a market rich with opportunity and room for growth.

BEST Funds believes that its investment will allow Financeit to secure its position as a leader in Canada and to focus on their US expansion. Of the new debt-deal, CEO of BEST Funds John Richardson said, "We are confident that Financeit is poised to be a leading financial technology company in North America and we are extremely excited to have an opportunity to get involved. This investment will help Financeit continue to grow, while helping other companies to do the same."

In response to the deal, CEO and Co-Founder of Financeit, Michael Garrity said, "We are looking forward to seeing the positive outcome of this investment on the company as a whole. As one of the fastest growing sales financing platforms in North America, we are devoted to helping other companies expand their growth and develop beyond their expectations. This investment will allow us to further develop our platform and continue to help companies secure payment plans that are the best option for their customers."

About BEST Funds

BEST Funds is a leading Venture Capital/Private Equity firm that focuses on funding rapidly growing Canadian companies by providing them with the capital needed to execute their growth strategies and fully develop their Intellectual Property. Primarily focused on companies with recurring revenue streams in the technology, healthcare and financial services industry, BEST Funds is deploying capital to some of Canada's fastest growing companies. BEST Funds was established in 1996 in Toronto and works with companies across Canada.

About Financeit

Financeit is a platform that makes it easy for businesses to boost sales by offering consumer financing to their customers from any device. The company brings point of sale financing tools to main street merchants to increase close rates and transaction. Since launching in 2011, Financeit has signed up over 3,500 retail, vehicle, home improvement and healthcare businesses that have processed more than $700 million in loans.

Contact Information

  • BEST Funds
    Alan Chettiar
    416-203-7331 ext. 235