HB Lease Co. Announces Strategic Sale of Technology Division to QuickBucks

Toronto, Ontario May 12, 2024 (EMWNews.com) – Vault Credit Corporation 5-41 Scarsdale Road, Toronto, ON, M3B 2R2 May 6, 2024

HB Lease Co. Announces Strategic Sale of Technology Division to QuickBucks

Today, HB Lease Co (“HB”) announced that it has sold a controlling interest in its technology platform that facilitates CRM, administration, and billing services for originators and vendors to QuickBucks Inc. The platform has facilitated over $1BN in transactions and is being used by prominent originators and lenders.

HB Lease Co., along with the Chesswood Group Ltd (TSX: CHW.TO), owns Vault Credit Corporation (“Vault”), Canada’s largest non-bank owned equipment leasing company that also specializes in commercial lending. QuickBucks is a technology company focused on optimizing the workflows for originators and lenders in financial services.

The decision to sell the technology platform aligns with HB’s strategy to streamline operations and concentrate resources on its lending businesses. “We are excited to announce the sale of our technology platform to QuickBucks,” said Daniel Wittlin, CEO of Vault and HB. “This allows us to sharpen our focus on our core lending businesses. We are confident that QuickBucks is the right partner and will continue to grow and improve the platform.”

QuickBucks sees this acquisition as an important move as it provides a robust technological foundation to further optimize its services. “We are thrilled about the acquisition of Vault’s technology platform. This will allow us to expand our footprint in the technology sector and enhance our overall value proposition to our customers.” said Jeffrey Roebuck, CEO of QuickBucks.

The sale closed on March 18, 2024.

MORE ABOUT VAULT CREDIT CORPORATION
Vault Credit Corporation is part of the Vault Group of Companies which is a conglomerate of lending companies that focuses on private credit products and has in excess of $2BN under management. Within the Vault Group of Companies, Vault Credit specializes in equipment leases and commercial loans. Vault Credit lends to small to medium businesses across Canada and caters to a wide spectrum of credit tiers, equipment types and industries. For more information, www.vaultcredit.com

About QuickBucks

QuickBucks is a technology company focused on CRM, servicing, administration and billing for originators and lenders in financial services. For more information, visit www.qbucks.ca