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Goldman Sachs ups stake in Canadian fintech company Financeit

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Goldman Sachs ups stake in Canadian fintech company Financeit

Toronto-based Financeit said it has secured an additional investment from existing shareholder Goldman Sachs Group Inc. making Goldman the majority owner of the point-of-sale financing provider.

The investment allowed Financeit to acquire Centah Inc., a software-as-a-service company with workflow and lead management solutions serving the home improvement industry. Since launching in 2011, Financeit has worked with more than 7,000 merchant partners, and processed more than $1.9 billion in loan applications.