M&A / Property

VERSABANK ANNOUNCES THRIVE FINANCIAL AS NEW US RECEIVABLE PURCHASE PROGRAM PARTNER

By The Northwire Desk — AI Analysis Oct 06, 2025 · 07:00 VBNK · 17.35 VERSABANK J

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VersaBank USA entered into an agreement with Thrive Financial Inc., adding Thrive as a new partner in the U.S. Receivable Purchase Program (RPP).
The partnership includes immediate initial funding and supports VersaBank’s target of building a US RPP portfolio of US$290 million.
Both companies highlighted strong growth momentum for point‑of‑sale financing, with VersaBank noting interest in its newly added securitized financing option within the RPP.

Agreement Scope: VersaBank USA will provide Thrive Financial access to its Receivable Purchase Program for home‑improvement point‑of‑sale financing.
Initial Funding: Completed immediately upon signing (specific amount not disclosed).
Portfolio Target: VersaBank aims to reach a US RPP portfolio of US$290 million.
Strategic Rationale: Home‑improvement financing identified as a major growth driver; partnership expected to generate significant value for both parties.
Securitized Financing Option: VersaBank has recently introduced a securitized financing component within the RPP, already utilized by several partners and now being offered to Thrive.
Quotes:
“We are thrilled to add Thrive as our latest RPP partner… we are confident this collaboration will drive significant value for both organizations…” – David Taylor, Founder & President, VersaBank.
“This partnership reflects our commitment to deliver great value to our merchants and homeowners…” – Jasjeev Sawhney, CEO, Thrive Financial.

“Home improvement financing continues to be a major growth driver of our RPP business on both sides of the border… we are seeing strong momentum in the growth of our Receivable Purchase Program portfolio.” – David Taylor, Founder & President, VersaBank
“We are excited to partner with VersaBank to integrate their innovative and economically attractive solution as we focus on growing our business nationwide.” – Jasjeev Sawhney, CEO, Thrive Financial

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