This is a significant transaction in the consumer lending space, making Flexiti a leading private label credit card issuer in the country. The acquisition includes an equity investment of over $50 million led by Globalive Capital, giving them a controlling position in Flexiti. A founding investor, Globalive Capital’s follow-on investment demonstrates its commitment to accelerating Flexiti’s growth and innovation in the alternative lending space. Flexiti has also secured new $350 million senior and mezzanine credit facilities, including $300 million provided by Credit Suisse AG, Cayman Islands Branch, providing capital to support the portfolio acquisition and its strong growth trajectory.

The acquisition adds more than one million new credit card customers, and 900 new merchant locations currently offering TDFS credit card financing at their locations, to Flexiti’s client base.

Founded in 2013, Flexiti is a Toronto-based fintech private label credit card issuer, offering POS financing at big-ticket retailers to make their customers' purchases more affordable. Through its award-winning mobile application process, customers can apply for financing and receive approval within minutes - no paperwork, no scanning or mailing. With minimal integration required into existing POS systems, retailers can quickly scale across multiple locations and sales channels to offer financing to all of their customers, in-store and online.

“Since our inception, Flexiti has experienced tremendous growth by following one simple mantra - our retailers are our partners, and we put them at the core of everything we do,” said Peter Kalen, Founder and CEO of Flexiti. “This acquisition of TDFS’ private label credit card portfolio represents an important milestone for our company, and the consumer lending space in Canada, as it instantly positions us as one of the largest consumer lenders in the country with a cardholder base of over 1 million Canadians. We’re thrilled to welcome our new retail partners to the Flexiti network and look forward to working closely with them to drive sales and customer loyalty through our industry-leading point-of-sale financing platform.”