Thinking Capital and CT-Payment have announced a new partnership and the full integration of Thinking Capital’s technology platform to CT-Payment’s network.
Thinking Capital, which was launched in 2006, provides a suite of funding options for SMEs. The platform requires no collateral and offers loans of between $50,000 and $300,000 at interest rates starting at 10%. It also offers Merchant Cash Advances of between $5,000 and $300,000. The partnership means that CT-Payment, which offers point of sale transactions – including debit authorization and settlement services, will support the Thinking Capital’s platform.
Peter Mazoff – Thinking Capital President and Co-Founder – explained:
"We choose our business partners carefully and this collaboration with CT-Payment is important to our growth in the alternative financing space in Canada."
“This partnership speaks to the power and scalability of our technology, and the rapid pace at which alternative funding is becoming the preferred option for small businesses to get the capital they need to grow.”
On the other side of the partnership, Denis Robert – CT-Payment President and CEO – remarked:
“We share a common vision with Thinking Capital in that access to funding is critical for supporting small merchants and fueling their growth”
“Through our new partnership and network integration we can now provide our ISO channel and strategic partners with a value-added solution for their merchants and new revenue stream for their business”
In the last seven days, the usually quiet Canadian alternative finance space has been alive with activity. On the 19th August, AltFi reported on Grouplend’s $10.2M equity funding round and, this week, we spoke to Brandon Vlaar about the launch of his new platform Lending Loop, that intends to open up Canadian peer-to-peer lending to unaccredited investors. The news that Thinking Capital is partnering with a third-party payment provider is further evidence that P2P is beginning to take off in Canada and scale in a meaningful way.