Ario, an Ottawa-based fintech startup that offers cost-efficient digital lending to small to medium-sized businesses (SMBs), has been acquired by another small business lender, Thinking Capital.
Ario’s platform uses data and algorithms to offer lending and cash flow management solutions for small businesses.
Thinking Capital said the acquisition of Ario will help it accelerate its vision in the Canadian FinTech marketplace, and better support Canadian small businesses and their recovery from the COVID-19 pandemic.
“In an economy that became substantially more digital over the last months, the Ario transaction will allow us to build on a cutting-edge cloud-based financial platform, designed from the ground up to serve small businesses,” said Stéphane Marceau, CEO of Thinking Capital.
Founded in 2017 with offices in Toronto and Ottawa, Ario’s lending-as-a-service platform allows enterprises to provide their customers with financing, including invoice financing, payroll financing, and working capital.
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