Michael Garrity, Founder and CEO of Financeit, has been disrupting the financial technology
industry for over two decades by bringing innovative technologies to traditional markets.
While in his executive leadership role at epost, Garrity became fascinated with consumer
debt and debt management, recognizing a market opportunity.
In 2008, Garrity founded CommunityLend, a peer-to-peer lending platform that connected
individuals who needed a loan with the appropriate resources in an eBay-like exchange. Identifying a market shift and regulatory reforms, Garrity pivoted the company using the same principals but focusing on merchant partners and financial institutions, leading to the inception of Financeit in January of 2011.
Centered around providing Canadians with Better Commerce for Better Living, Financeit is a market-leading point-of-sale financing provider servicing the home improvement, vehicle and retail industries. Financeit’s innovative cloud-based technology makes it easy for merchants to increase close rates and transaction sizes with affordable monthly or bi-weekly payment plans. The Financeit platform features a fast, transparent application process and has serviced
over 9,000 merchant partners across Canada, with over $1 billion in assets under management.
Garrity continues to carve out new territory in the Canadian business landscape, and in 2016 led the team (in partnership with Concentra) in the acquisition of TD Bank Group’s Indirect Home Improvement Financing Assets, a significant step in Financeit’s drive to become Canada’s leading home improvement financing provider. Most recently, Financeit announced a $500M strategic consumer lending agreement with the Royal Bank of Canada.
For more information, visit www.financeit.io.
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