About Borrowell
Borrowell is a company based in Toronto (Canada) founded in 2014 by Eva Wong, Scott Laitinen, and Andrew Graham. Borrowell has raised $53.65 million across 7 funding rounds from investors including SVB, iA Financial Group and National Bank of Canada. Borrowell has completed 1 acquisition, including Refresh Financial. Borrowell operates in a competitive market with competitors including Nithio, Nova Credit, KarmaLife, Cerved and Applied Data Finance, among others.
- Headquarter Toronto, Canada
- Founders Eva Wong, Scott Laitinen, Andrew Graham
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$53.65 M (USD)
in 7 rounds
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Latest Funding Round
$19.81 M (USD), Series B
Feb 22, 2021
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Investors
SVB
& 20 more
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Employee Count
Employee Count
- Investments & Acquisitions
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People of Borrowell
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Funding Insights of Borrowell
Borrowell has successfully raised a total of $53.65M across 7 strategic funding rounds. The most recent funding activity was a Series B round of $19.81 million completed in February 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Series B — $19.8M
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First Round
First Round
(03 Dec 2014)
- Investors Count 21
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2021 | Amount | Series B - Borrowell | Valuation | Kensington Capital Partners , BDC | |
| Jun, 2019 | Amount | Series B - Borrowell | Valuation | White Star Capital , Portage | |
| Jun, 2019 | Amount | Debt – Venture - Borrowell | Valuation |
investors |
Investors in Borrowell
Borrowell has secured backing from 21 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include SVB, iA Financial Group and National Bank of Canada.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Multiple sectors are invested in by the private equity firm.
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Founded Year | Domain | Location | |
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Venture capital is provided to economic, sustainability, and health sectors.
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Founded Year | Domain | Location | |
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A global technology investment platform operating in multiple cities with a focus on venture and digital asset funds.
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Founded Year | Domain | Location |
Investments & Acquisitions by Borrowell
Borrowell has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Refresh Financial.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Credit Builder programs for persons with bad/no credit
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2010 |
Financial Statements - Borrowell
Borrowell Comparisons
Competitors of Borrowell
Borrowell operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Nithio, Nova Credit, KarmaLife, Cerved and Applied Data Finance, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Analytics and financial solutions for distributed solar energy are provided.
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| domain | founded_year | HQ Location |
Nova Credit is focused on consumer credit data solutions.
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| domain | founded_year | HQ Location |
Subscription-based payday loans are provided to blue-collar workers digitally.
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| domain | founded_year | HQ Location |
Credit information, marketing solutions, and credit management services are provided.
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| domain | founded_year | HQ Location |
Lender focused on non-prime and unbanked borrowers
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Frequently Asked Questions about Borrowell
Borrowell was founded in 2014.
Borrowell is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Andrew Graham is the current CEO of Borrowell. They have also founded this company.
Borrowell is a funded company, having raised a total of $53.65M across 7 funding rounds to date. The company's 1st funding round was a Series B of $14.91M, raised on Dec 03, 2014.
Borrowell was founded in 2014 in Toronto, Canada, as a fintech company focused on credit services. An online platform is operated where registration is required for users to access free credit reports. Personalized recommendations for financial products and tips for credit improvement are generated based on individual credit data. Comparisons are facilitated for credit cards, personal loans, mortgages, bank accounts, insurance options, and investments across Canada.
Borrowell's top competitors include Nithio, Applied Data Finance and Savvymoneycom.
Borrowell has made 1 acquisition, including Refresh Financial.
Borrowell has 21 investors. Key investors include SVB, iA Financial Group, National Bank of Canada, Equitable Bank, and Portage.