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One of the frustrating realities of life is not being able to afford everything we want or need.

Financeit‘s consumer financing platform puts big purchases like furniture, electronics, cars, and even surgery into the realm of possibility. Today the startup announced raising $13 million in its first round of funding.

Businesses use Financeit’s mobile technology to offer their customers flexible payment options. Many customers are deterred from making large purchases because they don’t have enough cash on hand, or they don’t want to spend a hefty amount all at once.

iPadScreenLRGFinanceit’s software makes it easy to create loan applications and get them approved in minutes at the point-of-sale. Using a smartphone or tablet, businesses can enter a loan request, run an instant credit check, choose a financing program, and get paid.

Customers have the choice to defer payment for up to one year from the date of purchase, or get an interest free loan on their purchase for up to two years.

Financeit’s goal is to help businesses of all sizes drive sales by removing their customers from the burden of a large upfront cost. For many people, the ability to pay over time could be the deciding factor in whether or not to make a large purchase, which would otherwise be prohibitively expensive.

Loans range from $500 to $50,000 depending on the type of purchase, and they can be paid off over a period of up to five years. Financeit claims there are no hidden or prepayment fees, and customers pay the loan back at an interest rate of 12.99%.

So go ahead, buy that Sea Doo, install that pool, get that cosmetic surgery.

Financeit is based in Toronto, Canada and has worked with nearly 3,000 merchants partners and processed more than $500 million in loan applications since it launched in 2011.

Investors in this round include TTV Capital, Inter-Atlantic Group, and Second City Capital. This money will support Financeit’s expansion into the U.S..

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