Canadian neobank focused on lending
AI native consumer lending platform for underserved Americans
Canadians have not benefitted from fintech innovations in the last 10 years. They are stuck with a banking oligopoly and limited access to tech-first financial offerings (a lot of products still require you going to a branch in person!). We're fixing this.
US consumers within the risk appetite of prime lenders are served by the most competitive and efficient consumer lending marketplace globally. However, once you fall outside of this as a borrower, market efficiency breaks down and incumbents take advantage of low levels of competition to price gouge. We're fixing this.
The company shifted target markets from Canadian consumers (neobank for Canadians) to underserved US consumers (lending for subprime Americans), while still addressing lending and fintech. This is a meaningful market pivot, as the geography and core customer base are now fundamentally different.