Ritchie Bros. Financial reaches milestone

VANCOUVER — Ritchie Bros. Financial Services has announced it has surpassed US$1 billion in annual funded volume in 2022 for the first time.

The firm provides financing for purchases of used equipment, vehicles and other industrial assets including construction equipment.

Ritchie Bros. Financial Services has also seen approximately 40 per cent growth in the funding of private sale purchases, through online listing sites like Ritchie List, and equipment dealerships, stated a release.

“Ritchie Bros. Financial Services continues to drive industry-leading customer experience with our innovative, flexible financing and leasing solutions, combined with a fast and efficient approval process,” stated Chris Quinn, a vice-president with Ritchie Bros. Financial Services, in a statement. “In 2022, more than half of our funded volume came from repeat customers. At the same time, we are attracting new customers every single day.”