When it comes to financial services, GoEasy is a name that has gained significant traction in recent years. The company has become a go-to destination for Canadians seeking alternative financing options for their purchases. But have you ever wondered, who owns GoEasy? In this article, we’ll delve into the ownership structure of GoEasy and explore its history, mission, and values.
History of GoEasy
Before we dive into the ownership structure of GoEasy, let’s take a brief look at its history. GoEasy, formerly known as Easyhome Ltd., was founded in 1995 by Jason Smith and Steve Goertz. The company started as a rent-to-own furniture and appliance retailer, catering to Canadians who didn’t have access to traditional financing options. Over the years, GoEasy expanded its product offerings to include consumer goods, electronics, and even automotive vehicles.
In 2014, the company underwent a significant transformation, rebranding itself as GoEasy Ltd. This change marked a shift in focus towards providing financial services, including loans and credit products, to its customers. Today, GoEasy operates a network of over 400 locations across Canada, employing over 1,800 people, and has become one of the largest non-prime consumer lenders in the country.
Ownership Structure
So, who owns GoEasy? As a publicly traded company, GoEasy’s ownership structure is slightly more complex. Listed on the Toronto Stock Exchange (TSX) under the ticker symbol GSY, GoEasy has a diverse group of shareholders.
Insider Ownership:
As of 2022, GoEasy’s executive management team, including its President and CEO, Jason Smith, hold approximately 2.6% of the company’s outstanding shares. This level of insider ownership indicates a strong commitment to the company’s success and alignment with shareholder interests.
Institutional Ownership:
GoEasy’s institutional shareholders include prominent investment firms, pension funds, and asset management companies. Some of the top institutional shareholders are:
- The Vanguard Group, Inc. (6.3%)
- Investment Management Corporation of Ontario (5.5%)
- Mackenzie Financial Corporation (4.6%)
- The Toronto-Dominion Bank (4.3%)
These institutional shareholders own approximately 35% of GoEasy’s outstanding shares, demonstrating confidence in the company’s business model and future prospects.
Public Shareholders:
The remaining shares are held by individual investors, both retail and institutional, who purchase GoEasy stock through public markets. This diverse group of shareholders plays a crucial role in holding the company accountable and contributing to its growth.
Mission and Values
GoEasy’s ownership structure is only part of the story. The company’s mission and values are what truly set it apart from its competitors.
Mission:
GoEasy’s mission is to provide Canadians with accessible, responsible, and affordable financial solutions. The company aims to empower individuals and families to acquire the products they need, while also promoting financial literacy and responsibility.
Values:
GoEasy operates on a set of core values that drive its business decisions and interactions with customers:
* Customer First: GoEasy prioritizes customer needs, providing personalized service and tailored financial solutions.
* Integrity: The company conducts business with transparency, honesty, and ethics.
* Innovation: GoEasy invests in technology and innovation to improve customer experiences and stay ahead of the competition.
* Teamwork: Collaboration and teamwork are essential in GoEasy’s pursuit of excellence and customer satisfaction.
* Community: The company is committed to giving back to local communities through charitable initiatives and volunteer programs.
These values have contributed to GoEasy’s success and have earned the company a loyal customer base.
Conclusion
In conclusion, GoEasy’s ownership structure is a reflection of its commitment to transparency, accountability, and customer-centricity. With a diverse group of shareholders, including insiders, institutional investors, and public shareholders, the company is well-positioned for continued growth and success. GoEasy’s mission and values have enabled it to build a loyal customer base and establish itself as a leader in the Canadian financial services industry.
Whether you’re an investor, customer, or simply interested in the world of finance, understanding who owns GoEasy provides valuable insights into the company’s operations, values, and future prospects. As GoEasy continues to evolve and expand its services, one thing is clear – its commitment to customers and the community remains unwavering.
Who owns GoEasy?
GoEasy is a Canadian financial technology company that offers consumer financing solutions, and it is owned by its shareholders. As a publicly traded company, GoEasy’s ownership is distributed among its investors who hold shares of the company.
GoEasy’s largest shareholders include institutional investors, individual investors, and insiders such as executives and directors. The company’s shareholder structure is disclosed in its regulatory filings, which are publicly available on the System for Electronic Document Analysis and Retrieval (SEDAR) website. However, it’s worth noting that the ownership structure may change over time due to the buying and selling of shares by investors.
Is GoEasy a public or private company?
GoEasy is a public company, listed on the Toronto Stock Exchange (TSX) under the ticker symbol GSX. As a public company, GoEasy is required to disclose its financial information and other business details to the public through regular filings with the Canadian Securities Administrators.
As a public company, GoEasy is subject to strict regulatory requirements and oversight, which provides a level of transparency and accountability to investors and other stakeholders. GoEasy’s public listing also allows individual and institutional investors to buy and sell shares of the company on the open market.
What is GoEasy’s business model?
GoEasy’s business model is focused on providing consumer financing solutions to Canadians. The company offers a range of credit products, including loans, credit cards, and point-of-sale financing options, to individuals who may not have access to traditional credit channels.
Through its online platform and network of retail partners, GoEasy provides financing options to consumers at the point of sale, enabling them to purchase goods and services they may not have been able to afford otherwise. GoEasy generates revenue through interest and fees charged on its credit products.
Who are GoEasy’s largest competitors?
GoEasy operates in the consumer finance industry, which is competitive and rapidly evolving. Some of GoEasy’s largest competitors include other Canadian financial technology companies, such as Fairstone Financial and easyfinancial, as well as traditional banks and credit unions that offer consumer credit products.
These competitors offer a range of credit products and services, which can make it challenging for GoEasy to differentiate itself and attract customers. However, GoEasy’s focus on providing financing solutions to underserved Canadians has enabled it to carve out a niche in the market and attract a loyal customer base.
How does GoEasy make money?
GoEasy generates revenue through interest and fees charged on its credit products. The company earns interest income from the repayment of loans and credit card balances, as well as fees from late payments, NSF fees, and other charges.
In addition to interest and fees, GoEasy also generates revenue from partnerships with retailers and other businesses that offer its financing options at the point of sale. The company’s revenue model is designed to align with its business strategy of providing affordable credit products to Canadians who may not have access to traditional credit channels.
Is GoEasy a profitable company?
Yes, GoEasy is a profitable company. The company has consistently reported net income in its financial statements, demonstrating its ability to generate earnings from its business operations.
GoEasy’s profitability is driven by its ability to manage risk and maintain a high level of loan repayments from its customers. The company’s credit scoring models and risk assessment processes are designed to minimize losses and ensure that borrowers have the ability to repay their debts.
Can I invest in GoEasy?
Yes, GoEasy is a publicly traded company, which means that its shares are available for purchase on the open market. Individual and institutional investors can buy shares of GoEasy through a brokerage firm or online trading platform.
Before investing in GoEasy, it’s essential to conduct thorough research on the company, its financial performance, and the consumer finance industry as a whole. Investors should also consider their own financial goals and risk tolerance to determine if GoEasy is a suitable investment for their portfolio.