Financeit is proud to announce the successful closing of our inaugural C$201 million Term Asset-Backed Securities (ABS) transaction. Backed by a portfolio of home improvement loans, the transaction involved the issuance of approximately C$201 million of investment-grade rated notes to institutional investors in Canada and the United States. While home improvement ABS transactions are well established in the United States, this transaction represents a Canadian first.
Earning the Right to Scale
For our team, entering the capital markets is a defining chapter that transitions our platform to an institutional scale. This deal provides powerful market validation of our robust origination technology, our underwriting discipline, and the world-class operational and risk frameworks we’ve built over the years.
“This transaction is an important milestone for Financeit and is a testament to the maturation, scale, and performance of our platform,” says Casper Wong, Co-Founder and CEO. “Over the last four years, we have grown at a 33% compounded annual growth rate, fuelled by strong execution in our home improvement business and continued expansion across multiple verticals.”
With 2026 already projected to be a record-breaking year — and annual loan originations approaching C$2 billion — this transaction provides the perfect springboard for Financeit’s next chapter.
“Completing our first term ABS transaction demonstrates that Financeit has reached a level of sophistication and institutional credibility that enables us to access capital markets efficiently to support our next phase of growth,” Wong adds.
Powering Canada’s Leading Home Improvement Network
For our growing network of 10,000+ merchants and dealers, this evolution provides greater funding capacity to support continued growth in the home improvement sector. By optimizing our corporate funding structure, we can continue strengthening the financing solutions we provide to home improvement businesses across Canada.
Combined with our pre-existing credit facilities, this step provides Financeit with approximately C$2.5 billion in annual loan funding capacity.
“Our transaction was incredibly well received by large Canadian and US institutional investors,” says David Yeilding, CFO. “Issuing notes in the ABS market is a key part of our capital strategy, allowing us to continue to enhance and optimize our funding structure.”
World-Class Institutional Partnerships
Our transaction notes were credit rated by Morningstar DBRS, ranging from investment-grade tiers of AAA(sf) to BBB(low)(sf). The notes were placed with institutional investors in both Canada and the United States.
We are incredibly grateful to the top-tier global financial institutions and partners who worked alongside us to execute this seamless launch:
- Goldman Sachs & Co. LLC (Structuring and Joint Lead Placement Agent)
- CIBC Capital Markets (Joint Lead Placement Agent)
- BMO Capital Markets (Co-Manager)
- McCarthy Tétrault LLP and Chapman and Cutler LLP (Legal Advisors)
Looking Forward: A Stronger Foundation
This milestone directly impacts the thousands of home improvement professionals, contractors, and businesses that rely on us daily. By strengthening our access to the capital markets, we are ensuring that our merchant partners continue to have access to reliable, seamless financing solutions that help them close more deals and grow their businesses.
From a simple belief launched in 2011 to becoming an institutional fintech leader, we are continuously proud to reshape how major home improvement purchases are made across Canada. With a strengthened capital structure, an elite risk framework, and a record year ahead, we are perfectly positioned to accelerate our momentum.
This Canadian first is just the baseline for our next chapter of home improvement point-of-sale financing innovation. Thank you to our incredible team, partners, and investors for making this success possible!
To learn more about our financing solutions or partner ecosystem, discover how we support our Merchant Network.
If you’re interested in learning more about this achievement, check out the official press release here.