Consumer finance startup Wellspring raises $3 mln in funding
Wellspring Financial, a point-of-sale consumer finance company founded last year, has secured $3 million in an equity private placement. The investors in the deal, which was facilitated by Wildlaw Capital Markets Inc, were not disclosed. Based in Toronto, Wellspring provides point-of-sale financing and payment processing for small businesses across Canada. It said the company is now proceeding to complete a $15 million warehousing facility, as well as a $6 million preferred share offering, to support its finance operations. Wellspring's board of directors includes Canadian entrepreneur Anthony Lacavera, who in 2013 launched investment firm Globalive Capital.
9 July 2014•3 mins read
