Axis Auto Finance Inc. (Axis) is a Canadian auto-financing company that offers non-standard financing options to Canadian consumers. This company provides non-traditional financing solutions to independent car dealers and franchises. Its program segments receivables into performing, underperforming and non-performing stages. This allows Axis to generate revenue through Interest income. This allows Axis to offer non-traditional financing options to its clients. Based in Mississauga, Canada, it is an online subprime auto lender. The company claims to offer loans to 30% of Canadians with subprime credit ratings. Its recent TSXV listing has boosted its stock price. Its recent announcement also brought some good news. It has received an investment from NowLake Technology, which plans to purchase 30 million common shares at $0.50 per share. The acquisition will give NowLake a 23 percent stake in Axis.
The company has announced a strategic partnership with Westlake Financial Services and Nowcom Corporation. The companies will originate loans for near-prime customers in Canada and service them under the Axis brand. The companies plan to split profits between the two companies. Meanwhile, Nowcom will provide cutting-edge technology to improve communication between Axis and auto dealers. After the acquisition, the company plans to raise a new round of capital to expand its market share. Axis Auto Finance Inc. has agreed with NowLake Technology to purchase 30 million common shares at $0.50 per share. Nowak will own 23 percent of Axis after closing the deal. Nowak will also invest in Axis’ common shares. The transaction will be subject to shareholder and regulatory approval. Axis will continue to operate as a stand-alone company. This investment is not a guarantee of future profitability.
The company’s recent announcement has made headlines in the industry. While it may be an interesting addition to a rapidly expanding industry, Axis has been a good choice for borrowers with less than perfect credit. It has a thriving reputation in Canada, and its growth potential is huge. However, it is important to note that Axis has only recently joined the TSXV, making it one of the country’s smallest publicly traded auto lenders. Axis Auto Finance Inc. has entered into a strategic agreement with NowLake Technology, which owns a Canadian car loan company. The companies plan to create a joint venture that will enable the two companies to serve Canadians with subprime loans. Nowak is a financial service company based in Toronto, Canada. The firm has recently raised $2.2 million in equity from a new investor. This investment will increase Axis’ growth and its customer base.
Axis Auto Finance Inc. recently announced a new strategic partnership with Westlake Financial Services and NowLake Corporation. The company will jointly originate loans to near-prime customers in Canada and then serve them on behalf of the other company under the Axis brand. The two companies will share profits. Moreover, the nowLake investment will enhance the communication and efficiency of the auto dealerships that work with Axis.
Axis Auto Finance Inc. has signed a strategic partnership with Westlake Financial Services and NowLake Corporation. The company will originate subprime loans for Canadian customers and service them under the Axis brand. The two companies plan to share profits. The deal will be worth up to $100 million. This partnership will also boost the company’s revenue by increasing the company’s market share in Canada. Axis will be a better partner for consumers as it offers subprime financing and other solutions for people with subprime credit.
Axis Auto Finance Inc. announced a strategic partnership with Westlake Financial Services and Nowcom Corporation. The companies plan to offer subprime auto loans to Canadians with lower credit scores. The company plans to offer these loans through its online and physical retail channels. Axis also expects to increase its market share in Canada through this deal. The newest investment in Axis will help it expand its footprint in the United States.
Axis has also entered into a private Debenture placement. The company plans to use the proceeds to acquire additional debt. The Debenture private placement is subject to standard closing conditions and regulatory approval. Axis will use the proceeds from the private placement to finance its operations. Axis will retain its financial adviser, INFOR Financial Inc., to maintain its market share in the U.S., Australia, and the United Kingdom.