About Powered by Grow
Powered by Grow is a Financial Services company based in Vancouver (Canada) founded in 2014, and was acquired by ATB Financial in November 2019. Lending technology is provided to financial institutions through partnerships. Powered by Grow has raised $10.2 million across 4 funding rounds from investors including ATB Financial and Rhino Ventures. The company has 4 employees. Its focus areas include FinTech, Alternative Lending, Online Lenders and Consumer Loans. Its competitors include Mogo, Fairstone and goPeer; 1 of its 3 listed competitors has raised funding.
Company details
Grow (Previously known as Grouplend) was an online provider of unsecured personal loans. It offered loans of up to 30,000 for 3 years at an interest rate that varies between 5.9 to 17.5. It required the borrower to be a Canadian citizen with a 3 year credit history, a minimum FICO score of 690 and permanent employment with a minimum gross salary of 30,000. In November 2015, GroupLend re-branded to Grow Financial. Grow has stopped lending business and is instead focussing on partnering with financial institutions to provide them with their lending and underwriting technology.
- Headquarters Vancouver, Canada
- Employees 4
- Stage Acquired
- SectorsFinancial Services
- Website poweredbygrow.com
- Social LinkedIn X Facebook
- Acquired by ATB Financial (Nov 2019)
- Total Equity Funding$10.2M (USD)
in 4 rounds
- InvestorsATB Financial
& 1 more
- Employee Count4
- Acquired byATB Financial
(Nov 2019)
Funding Insights of Powered by Grow
Powered by Grow has successfully raised a total of $10.2M across 4 strategic funding rounds. 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 $10.2M
- Total Rounds 4
- Investors Count 1
All 4 funding rounds of Powered by Grow with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2017 | Series A | – | – | ||
| Aug 2015 | $10.2M | Series A | – | – | – |
| Aug 2015 | $10.2M | Unspecified | – | – | – |
| Sep 2014 | Seed | – | – | – |
2 investors in total: 2 institutional.
Investors in Powered by Grow
Powered by Grow has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include ATB Financial and Rhino Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage venture capital funding is provided by Rhino Ventures. | vff.vc | Vancouver, Canada | ||
Community banking services are provided by ATB Financial in Canada. | 1938 | atb.com | Edmonton, Canada |
Investor details for Powered by Grow
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Timeline of Powered by Grow
4 dated milestones of Powered by Grow across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Powered by Grow is founded.
- Funding First funding round.
- Funding Latest funding round, Series A,.
- Exit Acquired by ATB Financial.
Competitors of Powered by Grow
Powered by Grow has 3 listed competitors in our database, 1 of them funded. They include Mogo, Fairstone and goPeer.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| mogo.ca | 2008 | Vancouver, Canada | Personal loans and lines of credit are provided by Mogo. | |||
| fairstone.ca | 1923 | Montreal, Canada | 971 | Diversified lending services are offered by Fairstone as an NBFI. | ||
| gopeer.ca | 2019 | Toronto, Canada | $5.99M | Personal loans are facilitated via a peer-to-peer marketplace. |
Detailed competitors of Powered by Grow
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- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
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Frequently Asked Questions about Powered by Grow
Powered by Grow was founded in 2014.
Powered by Grow is headquartered in Vancouver, Canada. It is registered at Vancouver, British Columbia, Canada.
Powered by Grow is a funded company, having raised a total of $10.2M across 4 funding rounds to date.
Powered by Grow has 4 employees.
Grow (Previously known as Grouplend) was an online provider of unsecured personal loans. It offered loans of up to 30,000 for 3 years at an interest rate that varies between 5.9 to 17.5. It required the borrower to be a Canadian citizen with a 3 year credit history, a minimum FICO score of 690 and permanent employment with a minimum gross salary of 30,000. In November 2015, GroupLend re-branded to Grow Financial. Grow has stopped lending business and is instead focussing on partnering with financial institutions to provide them with their lending and underwriting technology.
Powered by Grow has 2 investors. Key investors include ATB Financial, and Rhino Ventures.
Yes. Powered by Grow was acquired by ATB Financial in November 2019.