Financeit expands management team by tapping CFO from Capital One Canada

New CFO Ian Hanning joins FinTech leader after more than 16 years with Capital One

TORONTO, Sept. 26, 2016 /CNW/ - Financeit, a market-leading provider of home improvement financing solutions, has tapped Capital One Canada's Ian Hanning as its new Chief Financial Officer. This addition to Financeit's management team will help propel the Toronto-based company into its next stage of maturity as it continues to expand its market share in the point-of-sale financing industry.

Hanning's entry into Financeit comes on the heels of the company's $339 million acquisition of TD Bank Group's indirect home improvement financing assets in partnership with Concentra. The transaction was formally announced on September 15th and involves the transition of approximately 800 merchant dealers to Financeit, signalling a new era of growth and opportunity for the company.

"Ian's strength in managing financial operations and building financial structures from the ground up will be a great asset to our company as we expand our loan portfolio and grow our business," says Michael Garrity, Founder and CEO, Financeit. "With many positive changes coming to Financeit as a result of our recent transaction, we're pleased to have Ian bring his wealth of experience within the banking sector to our executive team."

With 20 years' experience managing and leading finance teams in Canada and the United Kingdom, Hanning served as Capital One Canada's Chief Financial Officer for nearly five years. Prior to becoming CFO, Hanning held various senior positions within the bank's Canadian and United Kingdom operations over the previous 12 years. He started his career at Glenfield Hospital NHS Trust in Leicester, United Kingdom.

Hanning, 42, holds an Honours Bachelor of Arts in Accounting and Finance from Leeds Metropolitan University and has also obtained several national and global designations within the accounting profession. Hanning sits on the board of ENACTUS Canada, an organization committed to creating global sustainability through entrepreneurial action. 

"Fintech is still in its infancy stage in Canada but it is the future of the financial services sector, particularly in the lending space," says Hanning. "I am excited to be part of Financeit and impart my expertise to help bring more innovative financing solutions that will exceed the expectations of Financeit's merchant partners."

About Financeit

Financeit is a free-to-use platform that makes it easy for businesses to offer powerful financing options to their customers from any device. The company provides financing solutions through a safe and secure platform that traditionally were only available to big box retailers.

The Financeit brand is defined by its commitment to fairness, transparency and ease-of-use, with no hidden fees or backdated interest, and competitive interest rates. Since launching in 2011, Financeit has worked with over 6,000 home improvement, vehicle and retail businesses to process more than $1.5 billion in loans in Canada and the United States. Financeit is a private company and has raised money from a variety of investors, including a division of Goldman Sachs and FIS Global.

SOURCE FinanceIt Canada Inc.

Emily Abrahams, PR & Communications Manager, Financeit, [email protected], 647-738-4134