Flexiti
Flexiti Financial Inc. is a Canadian BNPL fintech founded in 2013, operating the FlexitiCard and Wave Card across 8,000+ retail locations in all Canadian provinces, serving consumers seeking 0% and installment financing for big-ticket purchases via merchant partners.
- Company typePrivate
- Founded2013
- HeadquartersToronto, Canada
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Flexiti does
Flexiti Financial Inc. is a Canadian consumer fintech founded in 2013 and headquartered in Toronto that operates a point-of-sale Buy Now Pay Later (BNPL) financing platform for retail merchants across Canada. The company's core technology is a proprietary omni-channel financing platform integrating with merchant POS systems (in-store) and e-commerce checkout APIs (online), supporting a network of over 8,000 retail locations across all 13 Canadian provinces and territories. Flexiti offers two card products: the FlexitiCard, a reusable store-branded financing card that enables 0% interest equal monthly payment or deferred payment plans (no interest if payments are made on schedule); and the Flexiti Wave Card, launched in 2024, offering interest-bearing installment plans over 24, 36, 48, and 60 month terms. Supporting infrastructure includes a self-service Merchant Portal, a Customer Portal (my.flexiti.com), a merchant mobile app, plug-and-play API documentation, and a Simply Secure payment protection insurance program underwritten by Trans Global Insurance Company.
Flexiti operates a B2B2C go-to-market model: merchants are acquired through direct sales and self-service onboarding, integrate Flexiti into their checkout, and offer financing to end consumers at the point of sale. Flexiti generates revenue from three streams: (1) merchant transaction fees (with two-business-day merchant settlement), (2) interest income on deferred balances and Wave Card installment plans, and (3) recurring insurance premiums from Simply Secure. The company reports a 75% average increase in merchant order value post-integration and has issued over 1 million FlexitiCard accounts. Named merchant partners include Sleep Country, The Brick, Leon's, RONA, Samsung, Staples, Wayfair, Visions Electronics, Kal Tire, Maison Birks, Peoples Jewellers, London Drugs, Miele, Mobilia, Ethan Allen, Endy, and Pandora, spanning furniture/appliances, electronics, jewellery, automotive, and fitness verticals.
Flexiti has raised over $530M cumulatively in debt and equity, including a $414M round in December 2021 led by National Bank of Canada with BMO and Waterfall Asset Management, and acquired TD Financing Services in 2018 for $250M, which materially expanded its network. The company is affiliated with Questrade as its parent company, holds provincial high-cost credit licenses in Alberta and British Columbia, and operates as a privately held corporation.
Flexiti firmographics
Firmographics- Name
- Flexiti
- Legal name
- Flexiti Financial Inc.
- Website
- https://flexiti.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Flexiti Financial Inc. is a Canadian BNPL fintech founded in 2013, operating the FlexitiCard and Wave Card across 8,000+ retail locations in all Canadian provinces, serving consumers seeking 0% and installment financing for big-ticket purchases via merchant partners.
- Ownership category
- akta.pro rank
Flexiti industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Sales Financing (52222), Consumer Lending (522291), Credit Card Issuing (52221)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Omnichannel POS Financing (Unified Online + In-Store) (FSAKAFAE)
- akta.pro secondary industries
- Merchant-Branded Installment Financing (Retailer Private-Label) (FSAKAFAA), BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG)
Keywords
Where Flexiti is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Flexiti business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Others
Revenue model
- Merchant Transaction Fees: Flexiti generates revenue through transaction fees charged to merchants for financing services. Merchants receive settlement within two business days of customer purchases. This is the primary revenue stream from the B2B2C model.
- Interest Income: Revenue generated from interest charges on deferred payment plans when balances are not paid in full by term end, and from the Flexiti Wave Card's interest-bearing installment plans (24, 36, 48, 60 month terms).
- Insurance Premiums: Monthly insurance premiums from the Simply Secure payment protection insurance program offered to customers during card application or purchase.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | 0% Interest Equal Monthly Payment Plans |
| Subscription | Monthly | Deferred Payment Plans |
| Transaction based/ take rate | Monthly | Regular Credit Purchase |
| Subscription | Monthly | Flexiti Wave Card (Interest-Bearing) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Flexiti product offering
Product offeringCore offering
Flexiti offers consumer point-of-sale financing through the FlexitiCard (0% interest equal monthly payment and deferred payment plans) and the Flexiti Wave Card (interest-bearing installment plans over 24, 36, 48, and 60 months), distributed across a network of 8,000+ Canadian retail locations and integrated online merchants via a proprietary POS financing platform and API. Merchants settle within two business days while customers receive instant approval and can reuse their card across the network without reapplying.
Product overview
Flexiti is a Canadian Buy Now Pay Later (BNPL) financial technology company offering a dual-card product portfolio. The core offering consists of the FlexitiCard (0% interest financing) and the Flexiti Wave Card™ (interest-bearing installment financing), which work across the Flexiti Network™ of over 8,000 Canadian retail locations. Supporting infrastructure includes the Customer Portal and Merchant Portal/platforms for account management. Add-on services include Simply Secure™ insurance and the Offer Hub and Wave Offer Hub for promotional deals. The architecture is a unified platform approach where both card products share the same merchant network infrastructure, API integration, and POS connectivity, differentiated primarily by their financing terms and interest structures.
Differentiator
Problem solved
Functional benefit
Brands
- Simply Secure: Payment peace of mind insurance program allowing affordable payment protection insurance coverage in the event of certain unforeseen circumstances. Underwritten by Trans Global Insurance Company and Trans Global Life Insurance Company.
Products and services
- FlexitiCard The FlexitiCard is a reusable store-branded financing card that enables Canadian consumers to make purchases at participating Flexiti Network retailers (in-store and online) with 0% interest equal monthly payment plans or deferred payment plans. No interest is payable if required payments are made when due, and the card can be reused across the network without reapplying.
- Flexiti Wave Card The Flexiti Wave Card is an interest-bearing installment financing card offering equal monthly payment plans of 24, 36, 48, and 60 months at select Flexiti Network retailers. Unlike the FlexitiCard, it does not offer 0% no-interest financing but can be used like a regular credit card at a broader set of Flexiti Network retailers.
- Simply Secure Payment Protection Insurance
Quantifiable outcome
- 75% average increase in order value for merchants after adopting Flexiti POS financing
- +2 more outcomes
Companies that use Flexiti
Customer profileNamed customers14 records
Segments2 records
Ideal customer profiles2 records
Flexiti technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature5 records
Flexiti partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Trans Global Insurance CompanysupportingUnderwriter for the Simply Secure payment protection insurance program offered to FlexitiCard holders. Provides affordable payment protection coverage in the event of unforeseen circumstances, with benefits, exclusions, claims processing, and complaint handling managed by Trans Global.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Flexiti competitors and assessment
Company assessmentBroad incumbents
- Bread Financial: US public company (NYSE: BFH) providing private-label credit cards and BNPL solutions to retail partners. Closest scaled public-market comparable for Flexiti's merchant-branded card and POS financing model.
- Afterpay (Block): Block-owned BNPL platform serving Canadian consumers across online and in-store checkout. A broader global incumbent with significantly more capital, competing for the same merchant integrations Flexiti has.
- Klarna: Global BNPL leader expanding into Canada with pay-in-installments products. Wider product suite and stronger brand recognition; a competitive threat to Flexiti for enterprise merchant partnerships.
- Synchrony Financial: Largest US private-label credit card issuer, financing purchases at major retailers. Operates a more mature version of the merchant-network financing model that Flexiti is building in Canada.
- Affirm Holdings: US public BNPL leader (Nasdaq: AFRM) offering installment loans at point of sale. Public-market valuation benchmark and direct competitive threat to Flexiti's enterprise retailer pipeline in Canada.
Direct peers
- Affirm Canada (formerly PayBright): Affirm acquired Canadian BNPL pioneer PayBright in 2021 and now offers installment financing at major Canadian retailers. Most direct head-to-head competitor to Flexiti in Canadian omni-channel BNPL with global capital backing.
- Fairstone Financial: Canadian consumer lending specialist offering installment loans and POS financing for big-ticket retail purchases. Comparable target customer (near-prime Canadian consumers) and retailer base as Flexiti.
- goeasy: Canadian public consumer finance company (TSX: GSY) providing installment loans, lease-to-own, and unsecured credit. Competes directly with Flexiti in the high-ticket consumer financing space and offers a relevant public-market comparable.
- Sezzle: Public BNPL platform (Nasdaq: SEZL) that serves Canadian merchants and consumers with interest-bearing installment plans. Comparable product mechanics and target customer base to Flexiti's Wave Card offering.
- Snap Finance: US-based POS financing provider specialising in lease-to-own and installment financing for furniture, mattresses, automotive, and home improvement. Comparable merchant verticals to Flexiti.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Flexiti social profiles
Digital presenceFlexiti compliance and trust
Trust signalCompliance2 records
Flexiti financial estimates
Financial estimateRevenue estimate
Valuation estimate
Flexiti leadership team
Management profileNumber of profiles
Profiles7 records
Flexiti funding detail
Funding detailFunding overview
Funding rounds5 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Flexiti M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Flexiti
What does Flexiti do?
Flexiti offers consumer point-of-sale financing through the FlexitiCard (0% interest equal monthly payment and deferred payment plans) and the Flexiti Wave Card (interest-bearing installment plans over 24, 36, 48, and 60 months), distributed across a network of 8,000+ Canadian retail locations and integrated online merchants via a proprietary POS financing platform and API. Merchants settle within two business days while customers receive instant approval and can reuse their card across the network without reapplying.
Is Flexiti a public or private company?
Flexiti is a private company. It is classified as corporate owned and is currently operating.
When was Flexiti founded?
Flexiti was founded in 2013. It employs 251 to 500 people.
Where is Flexiti based?
Flexiti is headquartered in Toronto, Canada, in the North America region.
How does Flexiti make money?
Three revenue lines are on record. Merchant Transaction Fees are the primary driver. The others are interest Income and insurance Premiums.
Who are Flexiti's main competitors?
Broad incumbents on record are Bread Financial, Afterpay (Block), Klarna, Synchrony Financial and Affirm Holdings. Direct peers are Affirm Canada (formerly PayBright), Fairstone Financial, goeasy, Sezzle and Snap Finance.
Does Flexiti have an API?
Yes. Flexiti offers a plug and play API for online merchant integration. The "For Merchants" page states "Quickly and easily scale across all your commerce channels with minimal POS integration and plug and play API for online." A link to integration documentation is provided at an Atlassian wiki page (https://flexiti.atlassian.net/wiki/spaces/FDP/pages/143425599/Getting+Started). However, no public API documentation, authentication method, rate limits, or sandbox details are available in the provided source material. Developer documentation is at flexiti.atlassian.net/wiki/spaces/FDP/pages/143425599/Getting+Started.
What industry is Flexiti in?
Flexiti's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAFAE, Omnichannel POS Financing (Unified Online + In-Store), with a secondary code of FSAKAFAA, Merchant-Branded Installment Financing (Retailer Private-Label). Its NAICS code is 52222 and its SIC code is 6141.