Point of sale finance provider ThinkSmart has finalised a new A$100 million funding arrangement with Westpac that will give it the scope to look for new distribution arrangements.ThinkSmart chief executive Ned Montarello said Westpac was the first provider to participate in what the company sees as a multi-funder securitisation platform.The new funding deal supersedes a long-standing facility with Adelaide Bank.Montarello said the Adelaide Bank funding operated on a "principal and agent" basis, with ThinkSmart transacting as an agent for Adelaide Bank and taking its revenue in the form of an upfront fee.He said it was an unusual arrangement constrained the business during the financial crisis. "Coming out of the GFC, we looked for a more vanilla structure that could be rolled out further."The change in the company's funding arrangement also involves a change in accounting. Instead of booking revenue as an upfront fee, ThinkSmart will accrue leasing revenue through the life of the contract.As a result of the lower cost of the new facility and a higher return from the accounting change, ThinkSmart is forecasting a 25 per cent increase in "over life" revenue from its transactions. The change will be accretive to earnings per share after two years."In the new structure there is an equity component that gives us a return," Montarello said.ThinkSmart will maintain its relationship with Adelaide Bank and use the facility for new opportunities. "Distribution has never been an issue for us. We could have grown faster if we had better access to funding. Now we have the funding structure in place to be more aggressive."In Australia and New Zealand, the company has point-of-sale contracts with JB Hi-Fi, Dick Smith, Officeworks and next byte. It also has operations in the United Kingdom, Italy and Spain. Last November, it launched a rental division in the UK and hopes to develop rental operations in all its markets.The company made a net profit of $6.8 million in the year to December. This was a 31 per cent increase over the previous corresponding period. Sales rose 14 per cent, to $42.1 million.