Iceberg Finance Named Exclusive Partner for autologiQ's Easy Monthly Payment Repair Finance Solution

TORONTO, Sept. 11, 2024 /CNW/ - The Iceberg Finance Group and autologiQ are proud to announce their exclusive partnership. Through this collaboration, Iceberg Finance will be the sole financing partner for autologiQ's Easy Monthly Payment (EMP) repair finance solution, providing Canadians with seamless, accessible payment options for their automotive needs.

This partnership marks a significant milestone for both companies, combining Iceberg Finance's deep expertise in the automobile industry and its robust technological infrastructure with autologiQ's innovative approach, unique services and rapid expansion. With over $1 billion funded to date across its group, Iceberg Finance is positioned as one of the top specialized lenders in Canada, further solidifying its leadership role in the financial services industry.

autologiQ's digital platform and unique virtual vehicle management service connects consumers with a vast network of professional automotive service facilities.  autologiQ has experienced rapid growth with a keen focus on client satisfaction and by providing an easy and affordable vehicle service experience.  By integrating autologiQ and Iceberg Finance's technologies and programs, this partnership will deliver a seamless and efficient financing experience for both service providers and customers. autologiQ's platform connects consumers with a team of virtual service advisors and its extensive iQ Network, which features major brands like Midas, Trail Tire, and Tirecraft.

"We are excited to partner with Iceberg Finance as our exclusive financing provider," said Jeffrey Newhouse, Chairman & CEO of autologiQ. "Their deep knowledge of the automotive industry and commitment to innovation aligns perfectly with our mission to make professional automotive services more accessible to Canadians. This partnership represents a fantastic opportunity for both companies to leverage our strengths and continue our rapid growth across the country."

Iceberg Finance has been a key player in the automotive industry since 2012, making it a natural fit for this partnership with autologiQ. Following its acquisition of iFinance Canada in 2022, Iceberg Finance more than doubled its business volume and broadened its portfolio of specialized financing solutions. ''This collaboration with autologiQ is an incredible opportunity for both of our companies and aligns perfectly with our vision of expanding into diverse verticals and product offerings. Working with autologiQ over the past months, we have been impressed by their team, technologies and footprint across Canada. We are convinced this new partnership will be beneficial for both Iceberg Finance and autologiQ," said William Breton, COO of Iceberg Finance.

Both Iceberg Finance and autologiQ are thrilled to embark on this journey together, with a shared commitment to driving innovation and delivering exceptional customer experiences. The companies are already working on new improvements and automation initiatives, with technology and building a seamless experience at the forefront of their collaboration. These advancements will be key drivers of consistent improvements in the coming months. Notably, both companies are currently working on new strategies that will be directed towards expanding the program's scalability across Canada, particularly in Quebec and the Atlantic provinces which are not yet served by autologiQ. This partnership marks the beginning of an exciting new chapter for both companies, promising continued growth and success well into the future.

About autologiQ:

autologiQ is a leading digital automotive marketplace in Canada, offering a range of automotive services and solutions, including tire and wheel replacement, automotive maintenance and repairs, roadside assistance, windshield replacement and collision services. With a rapidly growing network of hundreds of automotive service partners across the country, autologiQ's Easy Monthly Payment solution empowers customers to manage their automotive expenses with flexible, affordable payment options. The company's commitment to innovation and customer satisfaction has fueled its impressive growth and solidified its position as a key player in the Canadian automotive industry.

About the Iceberg Finance Group:

The Iceberg Finance Group is a leading fintech lender that has funded over $1 billion across Canada. Comprising two companies, Iceberg Finance and iFinance Canada, the group specializes in providing innovative and flexible financing solutions.

Iceberg Finance focuses on the automotive sector, offering financing for vehicles, extended warranties, and insurance products through a nationwide network of over 2,500 dealerships. Meanwhile, iFinance Canada partners with over 10,000 service providers across diverse industries, including medical, dental, veterinary, home improvement, HVAC, and other consumer goods and services, offering flexible financing options.

As a fintech-driven group, the Iceberg Finance Group relies on cutting-edge technology as a cornerstone of its success. With a robust in-house IT team, the company develops proprietary solutions that deliver seamless, automated, and highly efficient experiences for both consumers and service providers. These technologies allow the Iceberg Finance Group to offer unmatched digital services, continuously setting new standards in the industry.

SOURCE The Iceberg Finance Group

Bojana Ceranic, The Iceberg Finance Group, [phone], [email protected]