Transaction enables Financeit to acquire Centah Inc., leading home improvement software company, and prepare for geographic expansion
Financeit, a leading point-of-sale financing provider, today announced the closing of investment round by Goldman Sachs, an existing shareholder.
This investment positions Goldman Sachs as majority owner and broadens Financeit’s service offering, through the acquisition of Centah Inc., a global SaaS company with extensive workflow and lead management solutions serving the home improvement Industry.
Centah’s market leading technology platform and call center infrastructure increases Financeit’s overall offering in the marketplace and allows Financeit to provide merchants with an end-to-end solution to increase sales.
“Today marks an important milestone for Financeit. The increased support from our existing shareholder, Goldman Sachs, reflects their continued confidence in our leadership team, our business model, our platform and the ability to grow our service,” said Michael Garrity, Chief Executive Officer and President of Financeit. “With the Centah integration, we will now be able to expand our offerings with a complete solution for the home improvement industry, from lead generation to closing the sale.”
“We are delighted to increase our investment in Financeit and help support the company in its development and growth,” said Anthony Arnold, a Managing Director at Goldman Sachs. “We look forward to Financeit building on its already strong track record as the company positions for continued innovation, expansion and success.”
“Centah had been looking for the right partner for quite some time, specifically in the technology space,” said Paul Sorrentino, CEO and President of Centah. “Combining the home improvement solutions offered by both Centah and Financeit will make business easier for big box retailers and manufacturers, and drive growth.”