Flexiti Acquires TD Financing Card Portfolio
Flexiti has announced the acquisition of TD Financing Services’ (TDFS) Canadian private label credit card portfolio valued at approximately US$250m. The acquisition includes an equity investment of over US$50m led by Globalive Capital, giving them a controlling position in Flexiti. A founding investor, Globalive Capital’s follow-on investment demonstrates its commitment to accelerating Flexiti’s growth and innovation in the alternative lending space. Flexiti has also secured US$350m senior and mezzanine credit facilities, including US$300m provided by Credit Suisse AG, Cayman Islands Branch, providing capital to support the portfolio acquisition and its strong growth trajectory.
The acquisition adds more than one million new credit card customers, and 900 merchant locations currently offering TDFS credit card financing at their locations, to Flexiti’s client base.