BEST Funds provides debt financing to Financeit

Canadian venture capital and private equity firm BEST Funds has provided undisclosed debt funding to Financeit Inc, a consumer financing platform based in Toronto. The deal will support the company's future market growth in North America. 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, the company said. Earlier this year, Financeit closed $40 million in renewable purchase and warehouse line facilities, and in 2013 raised US$13 million in a Series A round from U.S. venture capital firm TTV Capital and other investors.

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