Health Smart Financial Services, a technology-enabled specialty lender, has completed a minority growth equity financing led by iA Financial Group.
Health Smart's technology platform allows healthcare providers to offer their customers affordable monthly payments for services and products that require private out-of-pocket expense.
Health Smart has a growing base of over 1,500 merchant partners who benefit from the company's instant credit approval and paperless transaction capability.
"This investment by iA Financial Group provides us with additional growth capital to build our merchant and customer relationships, further invest in our leading technology platform, and grow our balance sheet," says Wayne Pommen, president and CEO of Health Smart. "We are also excited to bring on board a strong minority equity partner with extensive consumer financial services expertise and relationships."
"Merchants and consumers are increasingly turning to FinTech companies to make financial transactions faster and more convenient," says Denis Ricard, executive vice president at iA Financial Group. "Health Smart is at the forefront of this trend in Canada. We are delighted to partner with them as they continue to capitalise on the opportunity in the point-of-sale financing marketplace."
