Equifax Data Breach: What you can do About it in Canada

Rachel SurmanBlog, News

Canadian flag. Equifax breach. Canada.

You may have heard the news about the Equifax data breach. At Borrowell, we believe in helping Canadians make great decisions about credit – and this means being as transparent and helpful as possible. We’ve been in contact with Equifax directly and they’ve confirmed that a limited number of Canadians have been affected by the breach. Also, if your information … Read More

Equifax data breach: What you need to know

Rachel SurmanBlog, News

What happened? Equifax, the credit bureau Borrowell uses to provide free credit scores, announced on Thursday that it was the subject of a large-scale data breach. This breach has reportedly affected 143 million Americans, as well as an unknown number of people living in Canada and the United Kingdom. The hackers were able to obtain sensitive information, but Equifax Canada … Read More

Consumer lending rates jump after Bank of Canada hike: but what does this mean for you?

Rachel SurmanBlog, News

Toronto Financial District, the big 5 banks.

The Bank of Canada (BoC) raised its trendsetting interest rate from 0.75% to 1% on Wednesday, prompting Canada’s “Big Five Banks” to increase prime consumer lending rates. Effective Thursday, RBC, BMO, TD, Scotiabank, and CIBC will all increase prime lending rates from 2.95% to 3.2%. This is the second time since July that BoC has raised its key interest rate. … Read More

#Winning: Borrowell Raises $57 Million in Funding from Major Investors

Rachel SurmanBlog, News

The Borrowell Office

It’s an exciting time at Borrowell, to say the least! Today we announced we’ve raised $57 million in a Series A round of funding as we expand our free credit score, loan offerings, and other financial products to help more Canadians just like you. We’re proud to announce we’ve raised $12 million in equity funding and $45 million in new … Read More

Why Is My Credit Score Different With Borrowell?

Robert PalumboBlog, News

creditscoredashboard

So you heard about Borrowell’s credit score service and decided to try it out. Woo hoo! Just one problem. You sign up online, only to discover that your score is different than when you checked your score directly with Equifax, your bank, or another company. What gives? Score differences are to be expected. Our customers are often surprised to learn they have many … Read More

Know Your Credit Score in Canada Day – March 31st

Robert PalumboBlog, News

Have you ever gone online to check your credit score? Only about 14% of Canadians have… but Borrowell wants to change that for Canadians from coast to coast. That’s why Borrowell is sponsoring “Know Your Credit Score Day in Canada” on Friday, March 31st, 2017. Why does this matter? Your credit score can affect your ability to get approved for … Read More

Canadians with credit card debt suffer emotionally as holiday shopping season begins

Eva WongNews

Woman With Credit Card

Borrowell and Dr. Oren Amitay team up to help Canadians this holiday season. Black Friday kicks off a time of year where many Canadians with credit card debt go through extreme emotional distress. Dr. Oren Amitay & Borrowell are teaming up to talk about how the holiday shopping season can cause, contribute to or exacerbate mental health issues in Canadians who carry debt … Read More

CIBC strikes partnership with online lender Borrowell | Globe and Mail

AdministratorNews

DAVID BERMAN  | The Globe and Mail Canadian Imperial Bank of Commerce has teamed up with a small online lender, Borrowell Inc., offering an example of an established financial institution choosing to work with a rival rather than compete against it. Read the full article here (subscription required):  http://www.theglobeandmail.com/report-on-business/cibc-strikes-partnership-with-online-lender-borrowell/article32538641/

CIBC partners with fintech innovator Borrowell to deliver “one-click” online loans | CNW

AdministratorNews

Exclusive partnership leverages innovative technology for real-time loan adjudication and next day funding TORONTO, Oct. 27, 2016 /CNW/ – In a move that changes the traditional process for applying for a loan, CIBC (TSX: CM) (NYSE: CM ) announced today it is partnering with Borrowell to offer “one-click” online lending for clients. A first in Canada, the new partnership allows CIBC … Read More

Credit Scores Now Free | CBC The Exchange

AdministratorNews

CBC The Exchange

Credit: CBC “Do you know your credit score? There’s a new online source for that.” – Peter Armstrong, CBC Borrowell’s Chief Operating Officer Eva Wong appears on CBC The Exchange to explain credit scores to Canadians and how Borrowell is making them free for Canadians. If you’d like to watch the segment, go to http://www.cbc.ca/player/play/710989891708 and start at minute 33:00.

How’s your credit? Fintech lender makes it easier to find out | Globe and Mail

AdministratorNews

Add one more service that a tech-savvy company is making quick and easy for consumers: Toronto-based Borrowell Inc. announced on Monday that it is providing consumers free access to their credit scores through the fintech lender’s website, giving consumers a snapshot of their financial health.  http://www.theglobeandmail.com/report-on-business/hows-your-credit-fintech-lender-makes-it-easier-to-find-out/article30521283/

Borrowell and Equifax Canada Partner To Provide Canadians Free Access to Credit Scores | CNW

AdministratorNews

Borrowell and Equifax Canada Partner To Provide Canadians Free Access to Credit Scores Fintech company becomes first in Canada to provide credit scores for free without applying for credit TORONTO, Canada (June 20, 2016) – Borrowell, a leading Canadian fintech lender, today announced a new service that gives Canadians access to their Equifax credit score for free. From the privacy and … Read More

Investments Continue To Accelerate Canadian Fintech Growth | Businesswire

AdministratorNews

Borrowell receives $6.4 million investment from Equitable Bank, Hedgewood, Power Financial Corporation and others TORONTO, February 23, 2016 – Today, technology-driven marketplace lender and Canadian fintech leader Borrowell announced that  Equitable Bank , along with  HedgewoodPower Financial Corporation  and other investors, will invest $6.4 million of operating and loan capital in Borrowell’s platform. This investment brings total funds raised by the company to $11.8 million. “We’ve helped Canadians … Read More