QUEBEC, April 19, 2022 /CNW Telbec/ - Iceberg Finance Inc. celebrated its tenth anniversary by confirming its acquisition of all shares that are in circulation or have been issued by iFinance Canada, a FinTech company headquartered in Toronto. With the conclusion of this major transaction, Iceberg Finance becomes one of the top ten players in Canada's specialty financial services industry.
A 25-year veteran in the business, iFinance Canada offers financing options to more than 10,000 service providers across the country. It is recognized for its specialty products targeting medical fields, notably surgeries, and esthetic, dental, capillary, eye care and veterinary services. iFinance Canada gives Canadian consumers access to services for which conventional financing is often inaccessible or inadequate.
"This acquisition doubles our business volume and enables us to now offer a more diverse array of specialty financing programs to Canadians from sea to sea," stated President and CEO of Iceberg Finance, Réal Breton.
In fact, Iceberg Finance has expanded its portfolio of financing options via its access to iFinancePay's™ platform which can issue virtual credit cards in real time to make online and in-store purchases, as well as point of sale financing. By offering consumers a "buy now, pay later" financing solution, it is on an equal footing with the biggest lenders in the industry.
Already solidly established in Quebec and since last June in Ontario and the Atlantic provinces, Iceberg Finance is accelerating its conquest of the Canadian market thanks to iFinance Canada's presence throughout the country. The new group, headquartered in Quebec City, also has offices in Toronto and Vancouver. It boasts more than 150 employees throughout the country. Iceberg Finance's CEO concluded by saying, "The quality and expertise of the team that is joining us will allow us to achieve our pan-Canadian ambitions much more quickly."
"We are proud to continue to evolve within Iceberg Finance who are known for their robust ecosystem, their rapid growth, and their exclusive and innovative programs," stated Dr. Ann Kaplan, CEO of iFinance Canada. "Our combined assets will propel us into the forefront of specialty financing in Canada."
Supported by a banking syndicate led by BMO, Iceberg Finance reached out to financial advisor BMO Mid-Market Mergers & Acquisitions; legal advisor, McCarthy Tétrault; and tax advisor, Raymond Chabot Grant Thornton. iFinance Canada used Raymond James Ltd as its financial advisor.
Born from the union of five renowned business personalities (Réal Breton, CEO of Iceberg Finance, Éric Bernier, CEO of ABF, Richard Fortin, Cofounder of Alimentation Couche-Tard, Michel Cadrin, CEO of Groupe Michel Cadrin and Louis Martin, CEO of Ogesco Construction), Iceberg Finance first gained credibility in the specialty finance sector by becoming a trusted partner of the automobile sector thanks to its innovative financing solutions that were adapted to consumer needs. Iceberg Finance also carved out its place for specialty financing solutions for the goods and services industry. It received accreditation for its range of value-added products from numerous associations, notably the Canadian Lenders Association, the CCAQ which represents new car dealerships, AMVOQ which represents used car dealerships, and ACVLQ which represents recreational vehicle dealerships. Iceberg Finance continues its rise to prominence among the major players in Canada's specialty financing industry as it enters its second decade of existence.
iFinance Canada, present throughout Canada, has been in existence for 25 years. It specializes in financing that is adapted to the health sector, especially surgeries, esthetic, dental, capillary and eye care, and veterinary care. iFinance Canada boasts more than 75 professionals who have numerous years of experience in this type of specialty financing.
SOURCE Iceberg Finance
Province of Québec: Réal Breton, President/CEO, Iceberg Finance Inc., [email protected] (418) 563-3587; Other provinces: William Breton, MBA, Vice-president and Chief Operating Officer, Iceberg Finance Inc., [email protected], (418) 955-3587, Source: Stéphane Gasse, Senior Consultant, NATIONAL Public Relations, Tel: 418-648-1233, Cell: 418-265-8056, [email protected]
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