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Goeasy enters strategic partnership with PayBright

Mississauga, Ontario-based goeasy Ltd., which offers nonprime leasing and lending services through its easyhome and easyfinancial divisions, entered into a strategic partnership with PayBright, a Toronto-based fintech platform focused on instant point-of-sale consumer financing and installment payment plans.

Easyfinancial, goeasy's consumer lending division, will become the primary provider of nonprime financing within PayBright's point-of-sale payments platform through this partnership, according to a news release. The easyfinancial nonprime offer will be rolled out on the PayBright platform beginning in November.

In connection with the strategic partnership, goeasy will acquire a minority equity interest in PayBright for an aggregate price of C$34.3 million. In connection with the investment, which is expected to be completed by Sept. 30, goeasy will receive customary shareholder rights as a significant strategic minority investor, including a seat on PayBright's advisory board.