Toronto-based Financeit has announced the acquisition of rival Simply Group Financial, further expanding its share of the Canadian home improvement financing market.
The deal includes Simply Group’s assets, which include SNAP Home Finance and certain assets of EcoHome Financial, amounting to over $1.5 billion.
Financeit aims to enhance its market footprint and commitment to point-of-sale financing in Canada through this acquisition. The terms of the transaction were not disclosed.
Simply Group’s 180 employees will join Financeit, allowing the combined companies to leverage superior technology and offer an improved customer experience.
Want to know more? Check out the source code on the Financial Post.