Canadian fintech extends presence in home improvement industry with exclusive partnership
TORONTO, March 17, 2021 /CNW/ – Today, Financeit, Canada’s leading point-of-sale (“POS”) financing provider in the home improvement sector announced an exclusive, two-year partnership with Right Time Group of Companies, effective immediately.
Founded in 2014, Right Time is a leading Canadian independent heating, ventilation, and air-conditioning (“HVAC”) contractor focused on the residential market. The company comprises numerous brands, including Boonstra, Furnasman, Mr. Furnace and most recently acquired The Comfort Group and 360 Super Techs. Operating out of 21 locations in Ontario, Manitoba, Saskatchewan, Alberta, and British Columbia and over 1000 employees, the company provides preventative maintenance programs, repairs and replacements of HVAC units, plumbing, drains and electrical services.
“We’re thrilled that our relationship with the Right Time group has grown and expanded to Financeit now being the group’s exclusive financing partner in Canada” says Casper Wong, President and Co-Founder of Financeit. “We’re proud to work with a leader in the residential HVAC services space in Canada and are excited to continue providing Right Time with technology and innovative financing programs to support their growth.”
Initially signed on as a partner in March of 2021, Right Time has exclusive access to Financeit’s innovative technology to support its growth strategy through a comprehensive service package that includes preferred financing, training, support, and program implementation. As an exclusive partner, Financeit designed a bespoke concierge service customized to fit the needs of HVAC dealers in the Right Time network. This program consists of preferred financing, exclusive promotional offerings, enhanced service and customized underwriting.
“Financeit has proven to be a fantastic partner in our year-long relationship” says Craig Goettler, CEO of Right Time Group of Companies. “We are looking forward to continuing our innovation journey together and bring to market more competitive solutions.”
Founded in 2011, Financeit’s incredible growth in 2021 has garnered multiple accolades, including being named one of The Globe and Mail Report on Business’ Top Growing Companies, and Canada’s Most Admired for Corporate Cultures™. Financeit also recently announced a change in its investors with Wafra Capital Partners Inc. having acquired the company from Goldman Sachs Asset Management.
Right Time Group of Companies also continues to grow with steady acquisitions of The Comfort Group and 360 Super Techs in 2022, further expanding the company’s network of services across the country.
Financeit Canada Inc. is a market-leading point-of-sale financing provider that serves home improvement, recreational vehicle, and retail industries. The company provides payment plans to enterprise businesses, big box retailers, OEMs, and dealer networks for their projects and purchases, as well as offers solutions for consumers. Its cloud-based technology enables merchants to increase close rates and transaction sizes with monthly or bi-weekly payment plans. Financeit’s platform features a transparent loan application process and has serviced over 9,000 merchant partners across Canada. Financeit was founded in 2011, is based in Toronto, Canada, and operates as a subsidiary of CommunityLend Holdings Inc.
About Right Time
Right Time is the leading Canadian independent heating, ventilation, and air-conditioning (“HVAC”) contractor focused on the residential market. Right Time now operates out of 21 locations in Ontario, Manitoba, Saskatchewan, Alberta, and British Columbia with over 1000 employees, and provides preventative maintenance programs, repairs, replacements of household HVAC units, plumbing, drains and electrical services. For more information, please visit www.right-time.ca. Right Time is majority-owned by Gryphon Investors, a leading middle-market private equity firm.