On Oct 6 2025, VersaBank announced that its U.S. subsidiary, VersaBank USA, entered into an agreement with Thrive Financial Inc., a Virginia‑based technology platform for home‑improvement point‑of‑sale financing. The partnership will allow Thrive to use VersaBank’s Receivable Purchase Program (RPP) in the United States, and VersaBank immediately completed an initial funding transaction.
The addition of Thrive Financial marks VersaBank’s latest RPP partner and reinforces the bank’s strategy to scale its highly attractive, de‑risked RPP model in the U.S. market. CEO David Taylor said the collaboration will drive significant value for both parties and supports the bank’s confidence in reaching its U.S. RPP portfolio target of US$290 million by year‑end.
The partnership also signals strong momentum for VersaBank’s RPP, as the bank reports growing interest in its newly added securitized financing option. With several fundings already completed, including two new partners, VersaBank’s “one‑stop‑shop” solution is positioned to capture a larger share of the underserved U.S. point‑of‑sale financing market.
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