About Fairstone
Fairstone is a company based in Montreal (Canada) founded in 1923 was acquired by Duo Bank in February 2020.. The company has 971 employees as of December 31, 2024. Fairstone has completed 4 acquisitions, including Banque Laurentienne, EdenPark and Financial Concepts. Fairstone operates in a competitive market with competitors including Mogo, Investec, BMO, Bank of America and Scotiabank, among others.
- Headquarter Montreal, Canada
- Employees 971 as on 31 Dec, 2024
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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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Latest Funding Round
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Investors
Lloyds Banking Group
& 6 more
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Employee Count
971
as on Dec 31, 2024
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Investments & Acquisitions
Banque Laurentienne
& 3 more
- Acquired by
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Software Development Team
37 people
Leadership Team
25 people
Finance and Accounting
18 people
Sales and Marketing
18 people
Product Management Team
15 people
Senior Team
12 people
Lending Team
10 people
Legal and Compliance
7 people
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Funding Insights of Fairstone
- Total Funding Total Funding
- Total Rounds 2
- Last Round Last Round
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First Round
First Round
(01 Jul 2019)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2020 | Amount | Debt – Conventional - Fairstone | Valuation |
investors |
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| Jul, 2019 | Amount | Debt – Conventional - Fairstone | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Fairstone
Fairstone has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Lloyds Banking Group, Alcentra and Varde Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Alcentra is engaged in alternative credit management and investment.
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Founded Year | Domain | Location | |
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Centerbridge Partners is engaged in alternative investment management.
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Founded Year | Domain | Location | |
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Global investment firm focusing on credit and credit-related assets across markets.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Fairstone
Fairstone has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Banque Laurentienne, EdenPark and Financial Concepts. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Vehicle loans are provided to customers in Canada by EdenPark.
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2008 | ||||
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Provider of financial management services
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1995 | ||||
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Provider of financial advisory services
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1984 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Fairstone
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Fairstone Comparisons
Competitors of Fairstone
Fairstone 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 Mogo, Investec, BMO, Bank of America and Scotiabank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Personal loans and lines of credit are provided by Mogo.
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| domain | founded_year | HQ Location |
Global banking, investment, and wealth management services are offered worldwide.
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| domain | founded_year | HQ Location |
BMO is recognized as a leading financial services provider in Canada.
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| domain | founded_year | HQ Location |
Commercial banking and asset management services are offered worldwide.
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| domain | founded_year | HQ Location |
Commercial banking services are provided internationally by Scotiabank.
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| domain | founded_year | HQ Location |
Commercial banking services are provided throughout Canada.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Fairstone
Frequently Asked Questions about Fairstone
When was Fairstone founded?
Fairstone was founded in 1923 and raised its 1st funding round 96 years after it was founded.
Where is Fairstone located?
Fairstone is headquartered in Montreal, Canada. It is registered at Montreal, Quebec, Canada.
Who is the current CEO of Fairstone?
Scott Wood is the current CEO of Fairstone.
How many employees does Fairstone have?
As of Dec 31, 2024, the latest employee count at Fairstone is 971.
What does Fairstone do?
Fairstone was established in 1923 in Montreal, Canada, and operates as a non-banking financial institution in the lending sector. Personal and vehicle loans, along with other credit products, are provided to consumers across Canada. The company is headquartered in Montreal, with nationwide operations managed under the leadership of CEO and President Scott Wood. Focus is placed on diversified financial services for individual borrowers.
Who are the top competitors of Fairstone?
Fairstone's top competitors include Mogo, Investec and Canadian Imperial Bank of Commerce.
How many acquisitions has Fairstone made?
Fairstone has made 4 acquisitions, including Banque Laurentienne, EdenPark, and Financial Concepts.
Who are Fairstone's investors?
Fairstone has 7 investors. Key investors include Lloyds Banking Group, Alcentra, Varde Partners, Ontario Teachers' Pension Plan, and Centerbridge Partners.