goeasy

goeasy Ltd. was founded in 1990 as RTO Enterprises. It went public on the Toronto Stock Exchange in 1993, through a reverse takeover. Its original focus was leasing furniture. The company's original focus was offering customers furniture and appliances through a lease-to-own model.In 2003, it renamed itself easyhome, as an attempt to create a nationwide brand, and subsequently went on to become Canada's largest lease-to-own company with stores across Canada. In 2008, easyhome acquired Insta-Rent for $10 million. Around this time, the company launched easyfinancial, its financial services arm. easyfinancial was responsible for most of the growth of the company in the following years, with the easyfinancial segment eclipsing the easyhome segment in revenue by 2016.In 2012, easyhome was forced to re-state its financial statements, and the majority of its board of directors resigned. In March 2014, there was speculation that easyhome might acquire some of the locations of struggling payday lender Cash Store. After Cash Store went out of business, easyhome acquired 47 former Cash Store locations in early 2015.In 2016, easyhome changed its corporate name to goeasy, retaining the easyhome name for its rent-to-own durable goods business. The change was made to reflect the increasing diversity of the company's activities.In 2017, the company recapitalized the business with $530 million in financing to help fuel its future growth. During this time, the company also launched a secured lending product to provide homeowners with lower rates and higher loan amounts. The company also expanded into the Quebec market under easyfinancière, and also added lending services at its easyhome locations.In 2018, David Ingram, who had been President and CEO since 2001, took on a new role as Executive Chairman of the board. Jason Mullins, who previously held the role of Chief Operating Officer, became President and CEO in January 2019. That same year, the company also launched its next-generation proprietary online loan application as well as creditplus, its secured savings loan that helps customers rebuild their credit.In April 2021, goeasy acquired LendCare, a leading provider of point of care financing, for $320 million, accelerating goeasy's growth through product and point-of-sale channel expansion. The acquisition is expected to contribute to goeasy's earnings growth.