Marketplace lender Borrowell secures $6.4 mln in follow-on funding
Canadian lending marketplace Borrowell has secured $6.4 million of operating and loan capital. The investors included Equitable Bank, Hedgewood, Power Financial Corp, Oakwest Corp, Adam Felesky, the former head of Horizons ETFs, and Freycinet Investments. The raise, which adds to the company's seed round of December 2014, brings its total funding to $11.8 million. Based in Toronto, Borrowell offers fixed-interest loans to Canadians through a wholly online system. Since its launch last March, it has processed over $500 million in loan applications, the company reported. Borrowell plans to use the proceeds of its latest investment to accelerate growth.
23 February 2016•3 mins read
