Cloud startup Financeit scoops up former Capital One Finance Director as its new CFO

The trend of Bay street moguls trying their hand at startup life continues to grow as Financeit captures a finance veteran of its own.

Financeit is a cloud-based startup that allows companies to offer financing options to their customers. Ian Hanning, the former Senior Director of Finance at Capital One has just joined Financeit as the startup’s Chief Financial Officer.

Hanning’s entrance comes just a week after Financeit announced the acquisition of TD Bank Group’s $339 million indirect home improvement financing assets in partnership with Concentra.

“Ian’s strength in managing financial operations and building financial structures from the ground up will be a great asset to our company as we expand our loan portfolio and grow our business,” says Michael Garrity, the founder and CEO, Financeit.

“With many positive changes coming to Financeit as a result of our recent transaction, we’re pleased to have Ian bring his wealth of experience within the banking sector to our executive team.”

Fintech is in its infancy in Canada, though it’s growing rapidly. A month ago, an executive from Sun Life Financial with a specialty in digital health decided to make the jump to the Toronto-based digital health startup League. Lori Casselman, who had a background in startups, started at League’s chief health officer at the beginning of August.

Hanning has served in banks across Canada and the United Kingdom. In addition, he sits on the board of ENACTUS Canada, a global organization dedicated to creating sustainability through entrepreneurial action.

“Fintech is still in its infancy stage in Canada but it is the future of the financial services sector, particularly in the lending space. I am excited to be part of Financeit and impart my expertise to help bring more innovative financing solutions that will exceed the expectations of Financeit’s merchant partners,” says Hanning.

Related: Toronto’s Financeit wants to be the money lender for the smartphone age