A Canadian provider of point-of-sale financing for home improvement and vehicles this month announced the expansion of a partnership with the Electric & Gas Industries Association.
The expanded partnership between Financeit and EGIA will see the industry association’s financing platform OPTIMUS launch in Canada.
OPTIMUS Financing is a provider of consumer financing for home improvement contractors in the US who want to qualify customers across every credit score profile, delivering a high approval rate via brief online application.
Soft-pull technology allows contractors to instantly match customers to an appropriate financing option without, regardless of credit score, according to a statement from the company.
“Financeit has set a precedent for excellence and reliability in the Canadian financing sector,” said Bruce Matulich, who serves as chief executive of EGIA. “As EGIA brings the OPTIMUS Financing program and its one-stop-shop, know-before-you-go platform to Canada, they stand out as the ideal financing partner due to our shared history of mutual customer service and innovation.”
Through the new partnership, Canadian contractors can access Financeit’s programs via the OPTIMUS platform.
“Canadian contractors will now have the advantage of Financeit’s robust technology and services, along with OPTIMUS’s wide-ranging credit profile accessibility, and user-friendly platform,” Matulich said. “This partnership demonstrates our ongoing commitment to providing financing solutions that are efficient and inclusive, ensuring contractors can approve a broader range of customers, enhance profitability and drive business growth.”
This initiative will make energy efficiency upgrades and other home improvement projects more affordable and accessible for homeowners across Canada, according to Amar Samra, who functions as Vice President of marketing and enterprise partnerships for Financeit.
“Since 2017, we have enjoyed a mutually beneficial relationship with EGIA and its member contractors,” stated Samra, “and this long-term exclusive partnership is a natural evolution of our relationship.”
“We look forward to working closely with EGIA,” the VP continued, “to empower Canadian businesses, drive innovation within the industry, and bring energy-efficient options within reach for all Canadians.”
With approval rates north of 90%, OPTIMUS has facilitated financing for 250,000 residential and business projects valued at over $8 billion.
Founded in 2011 in Toronto, Financeit was acquired in 2022 before buying the Simply Group, which operates Simply Group Financial and SNAP Home Finance, last year.
The growing fintech recently shuffled its executive team.
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