Financeit and EGIA Expand Partnership with the Launch of OPTIMUS Financing Program in Canada
Canadian fintech leader was selected as exclusive financing partner for EGIA's expansion of its all-in-one OPTIMUS Financing program to Canadian home improvement contractors.
TORONTO, March 7, 2024 /CNW/ - FinanceIt Canada Inc., a leading provider of point-of-sale financing in the Canadian home improvement, recreational vehicle, and retail sectors, is pleased to announce the expansion of its partnership with the Electric & Gas Industries Association (EGIA). The new initiative will see EGIA's OPTIMUS, an innovative financing program designed to provide home improvement contractors with seamless access to consumer financing, officially launched in Canada.
OPTIMUS Financing is the leading 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 in one seamless, easy-to-use online application. Its soft-pull technology allows contractors to instantly match customers to the appropriate financing option without a waterfall of rejections, regardless of credit score. Thanks to this new partnership, Canadian contractors can now access Financeit's standard, extended and second-look programs through the streamlined, all-in-one OPTIMUS platform, empowering them to win new business and sustainably expand their revenue by serving more customers.
"Financeit has set a precedent for excellence and reliability in the Canadian financing sector. 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," said Bruce Matulich, CEO of EGIA. "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. 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."
The extended partnership underscores Financeit and EGIA's commitment to providing greater accessibility to point-of-sale consumer financing for contractors, and more efficient equipment for their customers. This initiative will make energy efficiency upgrades and other home improvement projects more affordable and accessible for homeowners across Canada.
Amar Samra, VP, Marketing & Enterprise Partnerships at Financeit, added, "Since 2017, we have enjoyed a mutually beneficial relationship with EGIA and its member contractors, and this long-term exclusive partnership is a natural evolution of our relationship. We are honored to be chosen as EGIA's exclusive financing partner for OPTIMUS in Canada. We look forward to working closely with EGIA to empower Canadian businesses, drive innovation within the industry, and bring energy-efficient options within reach for all Canadians."
Contractors interested in exploring the benefits of OPTIMUS and leveraging Financeit's expertise in financing solutions are encouraged to visit OPTIMUSfinancing.com/Canada for more information.
About Financeit
FinanceIt Canada Inc. is a 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 merchant partners across Canada. Financeit was founded in 2011, is based in Toronto, Canada, and operates as a subsidiary of CommunityLend Holdings Inc.
About the Electric & Gas Industries Association (EGIA)
EGIA is a nonprofit organization that empowers home services contractors to get the most out of their businesses through industry-leading training, financing and marketplace solutions.
OPTIMUS is the exclusive finance platform of EGIA, which has facilitated financing for 250,000+ residential and business projects valued at over $8 billion. Its all-in-one financing platform features access to every payment plan for every customer in a single application process – from prime and near-prime to sub-prime and leasing – resulting in approval rates over 90%. EGIA Contractor University offers access to the industry's most recognized educators, who deliver innovative keys to success through online training systems, in-person workshops, conferences and webinars. EGIA Contractor Marketplace brings together some of the most in-demand vendors and products in the industry at exclusive pricing.
SOURCE Financeit Canada Inc.
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