Goldman Sachs takes control of Financeit in recap financing

Toronto-based point-of-sale financing provider Financeit Canada Inc has closed a recapitalization round with the merchant banking division of Goldman Sachs. The undisclosed deal gives Goldman Sachs, a Financeit shareholder since 2015, a majority stake in the company. It also helped Financeit acquire Centah Inc, a Canadian provider of home improvement software. President and CEO Michael Garrity said the acquisition expands his company’s’s offering with a complete solution for the home services industry. Founded in 2011, Financeit has worked with more than 7,000 merchants and processed over $1.9 billion in loan applications.

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