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Axis Announces Listing on the Toronto Stock Exchange and Provides Business Update

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TORONTO, April 6, 2022 /CNW/ – Axis Vehicle Finance Inc. (“Axis” or the “Organization”) (TSXV: AXIS), is happy to announce that, efficient at the opening of investing on April 7, 2022, the Company’s typical shares will trade on the Toronto Inventory Exchange below the symbol “AXIS”. Powerful at the close of trading on April 6, 2022, the Prevalent Shares will be de-listed from the TSX Venture Trade.

Axis Auto Finance Inc. Logo (CNW Group/Axis Auto Finance Inc.)

Axis Car Finance Inc. Logo (CNW Team/Axis Automobile Finance Inc.)

Small business Update: Technological innovation pushed progress

Axis is a fintech loan provider altering the way Canadians acquire and finance utilized autos. By way of its immediate-to-customer (“D2C“) portal, DriveAxis.ca, people can pick out their upcoming used car, customise funding phrases and get the auto shipped – from the comfort and ease of their household. In addition, the Enterprise continues to increase B2B non-primary auto personal loan originations by providing progressive technological innovation options and top-quality services to its Seller Lover Network.

D2C – the long term of auto retail

Introduced in late 2021, DriveAxis.ca is a absolutely digital e-commerce option transforming the made use of automobile shopping for encounter. Buyers have obtain to 1000’s of motor vehicles, can get instantaneously authorised for financing and have the car sent, all devoid of leaving their household.

As shown by the US sector, digital retail is the upcoming action in the evolution of car or truck obtaining. Dependent on the productive start of the Ontario pilot, Axis expects D2C originated loans to become a substantial aspect of its portfolio heading ahead.

B2B originations go on to improve

Axis proceeds to set financial loan origination records through its coastline-to-coastline Canadian Vendor Associate network. At the finish of 2021, the auto loan portfolio balance was at a document $197M, an raise of 29% calendar year-over-year. Axis expects loan originations to carry on to accelerate as Canada exits the remaining COVID limits.

Massive, really fragmented market place

Applied automobile retail is a $40+ billion sector in Canada with less than 1% e-commerce adoption. With 85% of retail transactions getting financed, there are ample organic and natural growth and tuck-in acquisition chances for Axis.

Fiscal strength lets for continued expansion

With $6 million in altered earnings for fiscal 2021, Axis is a rewarding fintech firm. The Company’s $120 million revolving borrowing facility supplies sufficient room for portfolio growth and the $15 million equity financial investment by Westlake Economical accomplished in November 2021 has more strengthened the equilibrium sheet.

About Axis Car Finance

Axis is a economic technology company changing the way Canadians invest in and finance employed cars. As a result of our immediate-to-shopper portal, DriveAxis.ca, customers can opt for their up coming utilized vehicle, set up funding and get the auto sent to their residence. In addition, the business carries on to develop B2B non-key vehicle personal loan originations by providing modern technological know-how methods and outstanding services to its Dealer Lover Network. All Axis automobile loans report to Equifax, ensuing in around 70% of clients seeing a major advancement of their credit scores. Further facts on the Organization can be discovered at https://www.axisfinancegroup.com/investors-press-releases/.

The TSX Undertaking Exchange has neither authorized nor disapproved the contents of this press release. Neither the Trade nor its Regulation Products and services Service provider (as that time period is described in the procedures of the Trade) accepts responsibility for the adequacy or precision of this release.

Supply Axis Auto Finance Inc.

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Check out unique articles to down load multimedia: http://www.newswire.ca/en/releases/archive/April2022/06/c0800.html

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