The imbalance between the relative successes of Canada’s major financial institutions and the relative anonymity of its FinTech sector was a key area of focus throughout the daylong AltFi Toronto event. The stage played host to a range of experts from tech and finance, from Canada and abroad, each offering their thoughts on why the country’s FinTech industry is lagging behind, and how best to enable it to catch up.
One of the country’s leading fintech innovators, Borrowell is committed to helping their clients better understand their credit health by offering them the option to monitor their credit scores on a monthly basis – the first company in Canada to do so for free. They also provide free educational tools, such as a seven-week email course, to help customers learn and understand what they need to do to improve their score.
Borrowell is a fintech startup based in Toronto that uses technology to make financial services fast, fair and friendly. Along with offering Canadians access to their credit scores for free, Borrowell believes Canadians deserve more choice and more transparency when it comes to their personal finances.
The startup’s star studded team of investors and advisors includes former Dragon on CBC’s Dragons’ Den and author of the Wealthy Barber David Chilton, former dean of the Rotman School of Management Roger Martin, and the president of the Ranson Group, Sharon Ranson.
“They have to find the capital, and you know that anybody providing the capital, they have to be incredibly thorough in their due diligence to make sure the Borrowells of the world are well run, have the proper security in place, have a great management team and so on,” said Mr. Chilton. “They’ve done an excellent job in that and in establishing a lot of relationships.”