TORONTO — Flexiti Financial says it’s accepting TD Costs Services’ Canadian clandestine characterization acclaim agenda portfolio admired at almost $250 million.
The Toronto company, which provides point-of-sale costs and acquittal technology, said the transaction provides it with a actor new acclaim agenda barter and 900 new abundance locations for its network.
The added locations accompany Flexiti’s absolute arrangement to 3,500 and accomplish it a arch clandestine characterization acclaim agenda issuer in Canada, the aggregation said.
“This accretion of TDFS’ clandestine characterization acclaim agenda portfolio represents an important anniversary for our company, and the customer lending amplitude in Canada, as it instantly positions us as one of the better customer lenders in the country,” said Peter Kalen, architect and CEO of Flexiti.
The portfolio of cards targeted appear specific abundance brands includes merchants in the jewelry, appliance and home advance categories, such as Peoples, Birks, Ethan Allen, La Z Boy and Kent.
TD’s accommodation to advertise the Canadian portfolio aligns with its action of simplifying its business archetypal and allows it to focus on its amount businesses of TD acclaim cards, MBNA and TD business acclaim cards, said coffer backer Julie Bellissimo in an email.
She acclaimed that TD continues to accomplish the TD Costs Services business in the U.S.
Flexiti said that as allotment of its acquisition, Globalive Capital will accomplish a $50 actor disinterestedness advance in Flexiti to accord them a controlled position in the aggregation afterwards actuality a founding investor.
The aggregation said it has additionally anchored $350 actor in acclaim accessories to abutment the portfolio accretion and its advance strategy.
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