PayBright, a Canadian fintech lending and payments provider announced that it has raised $34 million in growth equity financing from goeasy Ltd. The transaction adds to a recent financing led by the Canadian Business Growth Fund and with participation from PayBright’s existing investors, including iA Financial Group. The total equity raised in the two transactions totals $60 million.
Recently named one of Canada’s Top 50 Fintech Companies by the Digital Finance Institute, PayBright has a rapidly growing network of over 4,700 merchant partners across Canada and has approved over $1 billion in credit for over 250,000 Canadians.
“This minority investment by goeasy provides us with additional growth capital to build our merchant and consumer network and to further invest in our technology platform and user experience,” said Wayne Pommen, President & CEO of PayBright. “We are pleased to have goeasy join the high-quality investor group that has supported our rapid growth in Canada over the past few years.”
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