Dominion Lending Centres acquires Filogix for $58.5 million
Dominion Lending Centres has acquired mortgage technology provider Filogix from Finastra Holdings for $58.5 million in cash, significantly expanding its technology and data presence across Canada’s mortgage industry.
Filogix operates the Expert, Expert Plus and FXLink platforms, which connect more than 8,000 mortgage brokers with approximately 350 lenders and other industry participants. Its technology supports the mortgage application process from submission through underwriting, along with workflow, compliance and data functions.
DLC said Filogix will operate as an independent, wholly owned subsidiary and remain operationally separate from Newton Connectivity Systems, which operates the competing Velocity platform.
The company said the structure is intended to ensure uninterrupted service for Filogix customers and partners. DLC also committed to continued investment in Filogix’s technology, infrastructure, customer service and data security.
“This is a highly strategic acquisition for the DLC Group,” said co-founder and CEO Gary Mauris.
“By bringing both Filogix and Velocity under the DLC Group banner, we significantly enhance our access to real-time market data and insights, while adding important redundancy across our critical connectivity infrastructure to ensure reliable and operational resilience for our customers.”
Filogix expected to add up to $18 million in adjusted EBITDA
Filogix processed approximately $60 billion in funded mortgage volume during the 12 months ended May 31, according to DLC. The company expects the business to contribute between $15 million and $18 million in adjusted EBITDA during its first 12 months under DLC ownership.
The acquisition is expected to immediately add to DLC’s adjusted earnings per share.
DLC financed the purchase through existing liquidity and its credit facilities. As part of the transaction, it entered into an amended credit agreement with TD Bank that includes a new $65-million term facility. Its revolving facility was reduced from $40 million to $30 million.
The company expects its ratio of total debt to pro forma trailing 12-month adjusted EBITDA to be approximately 1.65 as of June 30.
“Over its 30-year history, Filogix has become a trusted partner to brokers, lenders and suppliers,” Mauris said. “Filogix will continue to operate as a standalone business within DLC Group, ensuring a seamless transition for customers and partners and a dedicated team focused on supporting all its partners.”
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Last modified: August 4, 2026
