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Consumer platform for personal loans, credit building and credit monitoring

  • Andrew Graham, CEO & Eva Wong, COO
  • Toronto, Canada
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  • April 2017
  • Current
  • Series A

The Investment

More than half of Canadians are living from paycheck to paycheck and about a third of them cannot pay off their credit card. Borrowell's mission is to address that situation by providing Canadians the tools needed to reach their credit score potential, discover and access better financial products, spent smarter, and save effortlessly.

Canadians’ digital adoption of Fintech is still less than half that of other markets at a similar size.

Borrowell is changing this. The company has become a trusted adviser to its Canadian customers by helping them take control of their financial identity through free credit scores and access to relevant financial products. Its digital-first platform captures lending applications, credit score patterns and loan histories from thousands of users, translating this into powerful data sets which enable the company to provide personalized product recommendations and better predict and build the tools and products customers need to improve their financial well-being. Proof of their success lies in the figures: currently about 2m Canadians use Borrowell to keep tab on their financial health.

Why We Invested

Investing in Borrowell to make consumer credit fast, fair and friendly

Jean-Francois MarcouxChristophe BourqueSanjay Zimmermann

In a world where you can order fresh food to your doorstep at the click of a button, collect loyalty points on a digital app or print your lost keys in store, is it really acceptable to have to go through decade old procedures to get a consumer loan or snail mail forms for your credit score? We don't think so, and that is why we are proud to be backing Borrowell, a Toronto based fintech leader offering personal Loans, free credit scores and recommendations for personalized financial products.

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In the News

Borrowell Raises $25 Million to Fund Acquisition of Refresh Financial

The all-equity financing included a number of new investors for Borrowell, such as Kensington Capital Partners, BDC Capital, iA Financial Group and Impact Engine, a Chicago-based social impact-focused investment fund. Existing investors Portag3 Ventures, White Star Capital, NAventures (the venture arm of National Bank of Canada) and Equitable Bank also participated with new funding.

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