Big banks will allow Montreal-based Thinking Capital to extend more loans
Canadian Imperial Bank of Commerce and Bank of Nova Scotia are stepping up their involvement with fintech firm Thinking Capital, the latest example of deepening ties between Canada’s big banks the financial technology firms that are increasingly challenging them on their own turf.
The two banks are more than doubling the credit facility of the online small business lender to $125 million, which will allow the Montreal-based firm to extend more loans, says Jeff Mitelman, chief executive of Thinking Capital.
Read the full article at: business.financialpost.com
