Financeit raises $13 mln in financing

Toronto-based Financeit, which provides small businesses with a consumer financing platform has raised US$13 million in a Series A round. Investors include TTV Capital, Inter-Atlantic Group and Second City Capital. Michael Garrity, CEO of Financeit, told peHUB that the company raised US$3 million in angel funding from an undisclosed institutional source prior to the Series A round. The Series A funding will be used to help the Canadian company -- previously known as CommunityLend -- to expand into the U.S. market in 2014.

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