Flexiti

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.

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

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

• Point-of-sale financing
• Buy now pay later
• Consumer lending
• Retail financing
• Payment processing

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Others

Revenue model

1. 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.
2. 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).
3. Insurance Premiums: Monthly insurance premiums from the Simply Secure payment protection insurance program offered to customers during card application or purchase.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core 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

Named customers14 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

One partnership is on record.

• Trans Global Insurance CompanysupportingOthersUnderwriter 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

Broad 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

• Facebookfacebook.com/flexiti.fin
• Instagraminstagram.com/flexiti.fin
• Xx.com/flexiti_fin

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds5 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flexiti