What is Canaceede?

Headquarters:Toronto, Ont
Operations:London, Ont
Management:200+ Years
Assets Owned:$4.1bn+
Accounts Owned:660K+

Canaccede is a Canadian specialty finance business with flexibility across the credit spectrum to acquire all segments in the consumer receivables market. We directly manage assets across multiple product classes, and we are the preferred partner for financial institutions facing complex challenges requiring creative solutions.

What is Canaccede's Asset Transaction History?

$548mm+ bulk from a Canadian Bank
$415mm+ bulk from a Canadian Bank
$128mm+ forward flow and bulk from a Canadian Bank
$238mm+ forward flow from a Non-Prime Card Issuer

$900mm+ forward flow from a Canadian Bank
$853mm+ from a Canadian Bank
$1.31bn+ forward flow from a Non-Prime Card Issuer
$45mm+ forward flow from a Non-Prime Credit Union Issuer

$40mm+ bulk from a US Retail Bank
$37mm+ from a US Investment Bank

What is Canaccede's Expertise?

Canaccede possess deep expertise in both valuing and operating alternative assets. This combined capability allows us to blend the economics of opportunities and price assets as a strategic acquirer as opposed to solely transactional investment buyer. This ensures an optimized return profile for both Canaccede and the FI.

Does Canaccede create custom solutions?

Yes! Canaccede helps Canadian financial institutions optimize their capital and better manage their balance sheets by purchasing and/or servicing a broad range of their consumer finance assets. We monetize non-core segments of FI's receivable base that are deemed non-strategic or require excess capital reserves resulting in dilution to return on equity. The company can implement customized solutions that boost earnings, improve capital ratios, reduce volatility, and enhance the FI's lending capacity.

How is Canaccede different from traditional debt buyers?

Unlike a traditional debt buyer, we partner with financial institutions and credit originators to develop creative solutions that meet their unique requirements. These can include customized software platforms or servicing divisions for a specific FI requirement.

We are well funded and have the ability to complete transactions of any size across the full spectrum of consumer finance assets.

We bring responsive and flexible execution that meet your needs. This can include year-end transactions with short delivery time frames or ongoing purchase commitments which provide price certainty and insulates the FI from economic and performance risk over long horizons.

What transaction types does Canaccede support?

We are well funded and have the ability to complete transactions of any size across the full spectrum of consumer finance assets.

Canaccede supports various transaction types:

  • Discount rate arbitrage

Assets that require full capital allocation against them need to be discounted at FI ROE rates, whereas Canaccede can purchase these at lower unlevered discount rates.

This allows the financial institution to maximize its capital and manage its loss provisions for stability and consistency from period to period.

  • Non-strategic business divestiture

Products, geographies, or risk segments which the bank deems are no longer strategic can be monetized without the associated operational risk.

  • Buy or sell side transaction partnership on unqualifiable assets

By partnering during M&A transactions the FI is able to ensure optimal pricing and provide value to price dilutive segments.

What geographies does Canaccede cover?

While we focus on Canadian assets, our network of international partners allows us to monetize non-Canadian assets as well.

How is Canaccede an active manager of insolvency accounts?

We are the only fully-integrated service and purchasing provider in Canada. In addition to this, we:

  • Don't outsourced administration
  • Have a vested interest in optimizing the value from accounts
  • Protect your brand at all costs

Does Canaceede offer servicing solutions for operational risk management?

Canaccede is able to customize the delivery of business process solutions across the customer lifecycle.

This includes:

  • Software Platform Development and Implementation
  • Process Design and Implementation
  • Human Capital and Staffing Centralization Engagements

Who is Canaceede's leadership team?

David Sharpless, Chairman David has been active in the Canadian and International finance business for more than 40 years, both as a partner with one of Canada's largest law firms and as Chairman and a senior officer of public and private corporations. David holds a law degree from Osgoode Hall Law School and the designation of Chartered Director granted by McMaster's DeGroote School of Business.

Scott Coffin, President Scott has been active in the Canadian and US consumer finance industries for more than 20 years through roles at Portfolio Management Group, AVCO Financial, Equifax, and Assante Wealth Management. Scott holds a BA in Political Science and Economics from Western University.

Bryan Szemenyei, Chief Treasury and Business Development Officer Bryan has 15 years of experience in risk, credit, and investment analysis actively working with major Canadian banks and lending institutions through roles in commercial lending at TD Bank and the Portfolio Management Group. Bryan has BA (Hons) and MA degrees in Economics from Western University, and an MBA from the Richard Ivey School of Business.

Suzanne Larouche, General Counsel Suzanne has 28 years of experience in corporate and business law as a previous Lawyer, Partner and General Counsel for private law firms and public companies. She has held leadership positions within Aktiv Kapital Canada and its predecessor Portfolio Management Group. Suzanne holds a law degree from University Laval.

Andy Szemenyei, Chief Executive Officer Andy has been active in Canadian consumer finance for in excess of 25 years. He was previously President and CEO of Portfolio Management Group Canada, during which time he has worked actively with all major financial banks, consumer lenders and insurance companies. Andy holds both Business and Law degrees from McGill University.

Paul Sekhon, Chief Technology Officer Paul has over 15 years of technology and operations management experience. He was previously VP of Corporate Platforms Architecture & Operations and Head of Solution Architecture for Global Business Services at The Nielsen Company. Paul holds a degree in Political Science and Business Administration from York University.

Mark Daprato, Chief Commercial Officer Mark has over 25 years of Canadian sales and marketing experience. He has extensive experience in marketing and product roles in telecommunications and retail industries. Prior to joining Canaccede in 2016, he served as CMO of SHOP.CA and VP Business Development & Marketing for Cara Operations. Mark holds a BAH in History from Queen's University.

Who do I contact for more information?

We'd love to hear from you and see how we can help maximize the value of your insolvencies.

Please contact any of the following people:

Bryan Szemenyei
Chief Treasury and Business
Development Officer

Michael Chiu
Director, Corporate Development

Paul Sekhon
Chief Technology Officer

Mark Daprato
Chief Commercial Officer

Connect with Us

If your organization is looking for new ways to expand your capital pool, maximize your efficiencies or just explore how to think about managing your various consumer debt obligations, reach out to Canaccede today for an open exploratory discussion.

Industry Insights from an Industry leader

Canaccede is a leading provider of debt and insolvency purchasing and servicing solutions for institutional accounts receivables in Canada. Explore our ever-growing resource library to discover our industry insights and how we approach best practice solutions across industries.