CURO Group Holdings completes acquisition of Flexiti Financial

CURO Group Holdings Corp. completed its acquisition of Toronto-based point-of-sale/buy-now-pay-later provider Flexiti Financial Inc.

The transaction included cash at closing of $86 million and contingent consideration of up to $36 million based on the achievement of risk-adjusted revenue and origination targets over the next two years.

The acquisition provides CURO Group Holdings "instant" capability and scale opportunity in Canada's credit card and point-of-sale financing markets, according to a news release.

In connection with the transaction, Flexiti Financial and a related entity refinanced and expanded a nonrecourse asset-backed warehouse financing facility from $300 million to $395 million funded by Credit Suisse AG and SPF Securitized Products Master Fund Ltd.