Progressa Closes $84 Million Funding Round in Advance of IPO

August 28, 2018

On August 14, 2018, Progressa announced the successful closing of an $84 million equity and loan funding round, co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and included Eight Capital and Paradigm Capital. The equity capital facilitates a new loan purchasing program of up to $72 million with Cypress Hills Partners, a Canadian merchant banking firm.

Progressa is Canada’s fastest growing financial technology company specializing in alternative lending, helping consumers resolve overdue bills and other outstanding debts.

Kevin Refah, James Rumball, Pierre Soulard and Deven Rath (Corporate/M&A) of Miller Thomson represented Progressa in this transaction.