Grow (company)
 | |
| Private Company | |
| Industry | Financial Technology, Financial Services, Consumer Finance |
| Founded | 2014 |
| Headquarters | Vancouver, British Columbia |
Area served | Canada |
| Products | personal loans |
| Website |
www |
Grow (formerly Grouplend) is a private Canadian online lending company, headquartered in Vancouver, British Columbia. It is the first peer-to-peer online lender to be established in Canada.[1][2][3] Grow's platform enables borrowers to obtain a loan, the loans are then sold to private accredited investors. In August 2015 they closed their series A round of financing at $10.2 million, a round that was led by Vancouver angel investors Markus Frind, founder of dating website Plenty of Fish, and Lance Tracey, founder of Internet hosting services company Peer 1 Hosting.[4][5][6] On February 10, 2016 Grow announced its first partnership with a Canadian financial institution: First West Credit Union.[7] The partnership will enable members of First West Credit Union to access the range of Grow product offerings directly through the British Columbian financial institution.[8] The announcement with First West was followed on February 25, 2016, by a second partnership announcement with Conexus Credit Union, the largest credit union in Saskatchewan, in order to bring its online lending services to the province.[9][10]
References
- ↑ O'Hara, Clare. "Canadians turning to peer-to-peer Web loan providers". The Globe and Mail. The Globe and Mail. Retrieved 13 January 2016.
- ↑ Barry, Critchley. "Vancouver's Grouplend seeks middle class Canadians for individually priced loans". Financial Post. Financial Post. Retrieved 19 January 2016.
- ↑ Shecter, Barbara. "Marketplace lenders step out of the shadows in Canada — should we be worried?". Financial Post. Financial Post. Retrieved 19 January 2016.
- ↑ NewsDesk, Techvibes. "Grouplend Announces $10 Million Financing For Online Lending Platform". TechVibes. Retrieved 13 January 2016.
- ↑ Orton, Tyler. "Vancouver's emerging FinTech scene poised to push back against Canada's financial centre". Business In Vancouver. Business In Vancouver. Retrieved 19 January 2016.
- ↑ Soltys, Douglas. "PLENTYOFFISH CEO MARKUS FRIND LEADS GROUPLEND'S $10.2 MILLION FUNDING ROUND". BetaKit. BetaKit. Retrieved 19 January 2016.
- ↑ "Grow and First West Credit Union begin exploring online personal loans service". First West Credit Union. First West Credit Union. Retrieved 7 March 2016.
- ↑ O'Hara, Clare (Feb 10, 2016). "First West partners with online lending startup Grow". The Globe and Mail. Retrieved 7 March 2016.
- ↑ Hobey, Erin (Feb 25, 2016). "Canadian Grow and Conexus Align: Saskatchewan Welcomes Online Lending". crowdfundinsider.com. crowdfundinsider.com. Retrieved 7 March 2016.
- ↑ Lewis, Rob (Feb 24, 2016). "Startup of the Year Grow Partners with Saskatchewan's Largest Credit Union". TechVibes. TechVibes. Retrieved 7 March 2016.