Purpose Financial to buy TorQuest-backed Thinking Capital
Purpose Financial LP, the parent company of Purpose Investments and other affiliates, has agreed to buy Thinking Capital Financial Corp, a Montréal-based provider of small business loans and funding solutions online. No financial terms were released; however, the Globe and Mail said the cash-and-securities deal is valued at over $200 million. Purpose Financial, a Toronto-based financial services firm led by CEO Som Seif, said the buy will create an innovative financial services platform with a "significant balance sheet strength, strong financial backing, and a diversified funding model." TorQuest Partners, which has backed Thinking Capital since 2014, will retain a stake in the business.
9 March 2018•3 mins read
