MONTREAL, QUEBEC--(Marketwired - Sept. 29, 2016) - Merchant Advance Capital, a leading online business lender, is pleased to announce its partnership with global payments processor and acquirer EVO Payments International. The companies have joined forces to provide a technology-powered option for obtaining collateral-free financing for EVO's significant merchant base of small- to medium-sized businesses across Canada.
Both companies have built strong reputations on pioneering systems currently used by Canadian merchants. "This relationship will be hugely impactful for our clients who have often voiced a desire for a simple and convenient funding solution," EVO Canada GM and COO Kevin Lavigne says. "We've integrated our systems with Merchant Advance Capital to ensure our merchants enjoy a streamlined, tailored experience so they can get back to doing what they do best -- running their business."
EVO's strong brand identity and reputation for best-in-class products and services is grounded in its commitment to innovation. It was the first processor to introduce automated onboarding of merchants, similar to Merchant Advance Capital's proprietary 'Merchant Score,' which was put into practice earlier this year to assess creditworthiness electronically.
The amalgamation of both companies' tech resources is exciting news for Canada's fintech scene, which has been the subject of significant media coverage in recent months. As Merchant Advance Capital's founder and CEO David Gens notes, "The industry has exploded in the last couple of years. 'Fintech' is a word you just didn't hear ten years ago."
"With the technology we've built, I think we have an opportunity to make a meaningful impact on the Canadian landscape to offer convenient alternative financing options the market's never seen before. Our partnership with EVO is instrumental for us in reaching that goal," Gens adds.
About Merchant Advance Capital
Merchant Advance Capital is one of Canada's leading online lenders on a mission to help small- and medium-sized businesses grow. The company relies on technology and data science to reduce risk and offer lower fees and flexible repayment schedules. Founded in 2010, Merchant Advance Capital serves clients throughout Canada and has grown to include offices in Toronto and Vancouver. For more information, visit www.merchantadvance.com.
About EVO Payments International, LLC
EVO Payments International, LLC is a leading payments service provider of merchant acquiring and processing solutions for merchants, Independent Sales Organizations (ISOs), financial institutions, government organizations and multinational corporations located throughout North America and Europe. A principal member of Visa and MasterCard, EVO offers an array of innovative, reliable and secure payments solutions and merchant services, backed by an uncompromising commitment to exceed the expectations of our customers and partners. For more information, visit www.evopayments.ca.