Bastion Management, a private investment firm focused on asset-based lending in the specialty finance sector, agented a senior debt investment of $50 million in Cashco Financial to refinance an existing senior lender and fund future growth of its Canadian consumer lending portfolio. Stephens served as exclusive financial advisor on the transaction._x000D_
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Cashco is a branch and online-based lender providing underbanked Canadians access to installment and short-term loans as well as ancillary services to help customers track their credit and manage their finances. Cashco has established 54 branches and an online platform to extend its reach across Canada._x000D_
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“Propelled by the support and confidence of Bastion and Stephens, Cashco is embarking on an exciting phase of growth,” Lindsay Dodd, CEO of Cashco Financial, said. “The closure of this debt facility not only facilitates the scaling of our operations but also lays the groundwork for further investment in our people, an inventive product development roadmap and a relentless focus on technological advancement.”_x000D_
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“We are thrilled about our partnership with Cashco as they continue their mission of providing accessible financial solutions and empowering individuals on their journey towards financial health,” Tim Reimink, co-president of Bastion Management, said.
Forward for Specialty Finance
