08:06 AM EDT, 10/06/2025 (MT Newswires) -- Digital bank and cybersecurity provider VersaBank ( VBNK ) said Monday its U.S. subsidiary has sealed a deal with Thrive Financial, a Virginia-based technology platform for point-of-sale financing of home improvement projects. Thrive will use the Bank's Receivable Purchase Program (RPP) in the U.S.

VersaBank ( VBNK ) said it has already completed an initial funding.

"We are thrilled to add Thrive as our latest RPP partner ... we continue to scale our unique and highly attractive RPP solution in the US," said David Taylor, founder and president of VersaBank ( VBNK ).

"Home improvement financing continues to be a major growth driver of our RPP business on both sides of the border, in part due to its economic resiliency. We are confident this collaboration will drive significant value for both organizations and further supports our confidence in achieving our US RPP portfolio target of US$290 million."

Taylor said VersaBank ( VBNK ) is seeing "strong momentum" in its RPP portfolio, including in its securitized financing option. The bank has already completed several fundings.