Money Mart owner upsizes Ares debt facility to $580M

What's the deal? Momentum Financial Services GroupDealroom has a profile for this one. Try Dealroom →, the company behind the Money MartDealroom has a profile for this one. Try Dealroom → brand, has renewed and upsized its secured loan facility with AresDealroom has a profile for this one. Try Dealroom → Alternative Credit funds to US$594M. Ares raised its commitment from US$482.5M, an increase of US$111.5M, and extended the facility through January 2029.

The details: The deal includes an accordion feature providing up to an additional US$95.3M. Toronto-based Momentum offers personal loans, cheque cashing, money transfers, and currency exchange across more than 360 stores in Canada and 60 in the United States.

Why now? The upsize follows what Momentum called significant growth in its Canadian business over the past year. The extra capacity will fund its growing loan receivables portfolio and support new products expected to launch in Canada and the US.

What's the endgame? The financing lets Momentum expand its product range across North America. "It also positions us to bring new products to market in Canada and the U.S.," said Peter Kalen, chief executive officer of Momentum Financial Services Group.

For Ares, the deal deepens a longstanding relationship. "As a scaled capital provider, we look forward to supporting the company's continued growth," said Felix Zhang, partner in Ares Alternative Credit. Ares Management CorporationDealroom has a profile for this one. Try Dealroom → had over $671 billion of assets under management as of June 30, 2026.

The signal: At roughly $580 million, this ranks among the largest debt rounds for a Canadian fintech, sitting in the 96th percentile of comparable deals. It reflects lenders' continued appetite for backing established consumer-finance platforms with growing loan books.

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Image credit: Monito - Money Transfer Comparison