TORONTO, ONTARIO--(Marketwired - July 8, 2014) - Wellspring Financial, an innovative Canadian point-of-sale consumer finance company, is pleased to announce the closing of a $3MM common equity private placement. The Company is now proceeding to complete a $15MM warehousing facility, as well as a $6MM preferred share offering, to support its consumer finance operations.
Wellspring Financial was founded in 2013. Its mission is to become the leading provider of point-of-sale financing and payment solutions for small, independent businesses across Canada. Wellspring's vision is to help its partners in the retail, health and home improvement sectors offer flexible sales financing solutions and enable them to sell more, develop and grow, while helping consumers enjoy the things they need and want sooner.
"We have built the most innovative consumer financing solution in Canada", says founder and CEO, Peter Kalen, "...and we look forward to helping our partners grow their businesses while making large purchases more affordable for our customers." Kalen adds: "I'd like to thank my dedicated team, all of our professional advisors, our Board, our business partners and investors, who have committed their time and money in the shared knowledge that we will be a significant player in this market in Canada."
Wellspring Financial's sales financing solution will be available in select Canadian cities later this month.
Wildlaw Capital Markets Inc., an Exempt Markets Dealer headquartered in Toronto, acted as agent on the financing transaction.
About Wellspring Financial
Wellspring Financial, a division of Wellspring Acceptance Corporation, is a Canadian consumer finance company, led by an experienced team of executives with extensive knowledge of the retail credit space in Canada, that leverages mobile technology to deliver the fastest application process available on the market. Our vision is to help our partners in the retail, health and home improvement sectors offer flexible sales financing solutions that enable them to sell more, develop and grow, while helping consumers enjoy the things they need and want sooner.
For more information, visit wellspringfinancial.com.
About Wildlaw Capital Markets Inc.
Wildlaw Capital Markets is a privately owned Exempt Market Dealer headquartered in Toronto, Ontario and registered to do business in Ontario, BC, Alberta and Quebec. Established in 2009, Wildlaw Capital Markets fills a void in the Canadian capital markets arena for introducing small to mid-cap companies to the capital markets space with services that include: raising start-up and early stage capital; identifying and introducing public vehicles to companies seeking to go public; providing administration and corporate governance support for CPC's and NEX listed companies; private business and M&A advisory services.
Wildlaw Capital Markets is a member of the Exempt Market Dealer Association of Canada.
For more information, visit wildlawcapital.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
firstname.lastname@example.orgWildlaw Capital MarketsArtur Agivaev
416 847 6907
416 946 1008 (FAX)
Source: Wellspring Financial