# Borrowell

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/borrowell

- Industry: Financial Services
- Headquarters: Toronto, Canada
- Website: www.borrowell.com
- Total disclosed funding: $35M
- Latest round: Series C (Feb 22, 2021)
- Investors on record: 13

## About

Based in Toronto, Canada, and founded in 2014, Borrowell Inc. is a fintech company that assures financial stability to its customers through various services. Andrew Graham, the CEO, and Eva Wong, the COO, are the company's co-founders. In 2014, Borrowell raised USD 5.4 million in seed financing from Equitable Bank and Oakwest Corporation Limited. In February 2021, the company raised USD 25 million in new funding and completed the acquisition of Refresh Financial.

The company’s free mobile application called Borrowell can be downloaded from the apple store and play store. This application provides users with their Equifax credit score, an AI-powered credit coach named Molly helps share personalized tips, articles, and tools that will improve credit score. The application helps to track bills and credit scores and analyzes user's credit profiles and goals to make personalized credit card recommendations. This credit profile can also be used by users to find suitable personal loans and mortgages through the same platform, similarly, the platform also assists in finding personal banking partners and insurances.

Borrowell plans to launch several new tools and features in the coming months including Borrowell Boost, a new mobile tool that helps people get ahead of their bills.

## Funding rounds

- Series C, Feb 22, 2021, $20M — BDC Capital, White Star Capital, Impact Engine, Equitable Bank, Gaingels, Portage Ventures, Industrial Alliance and Financial Services Inc., Kensington Capital Partners, NAVentures
- Series B, Jun 10, 2019 — Silicon Valley Bank, White Star Capital, Clocktower Technology Ventures, Gaingels, Portage Ventures, Argo Ventures
- Series A, Jul 21, 2017, $9.5M — White Star Capital, Equitable Bank, Portage Ventures
- Seed, Dec 3, 2014, $5.4M — Equitable Bank, Oakwest Corporation

## Investors

- Equitable Bank — Seed, Series A, Series C
- Oakwest Corporation (https://capitalatlas.ai/funds/oakwest-corporation) — Seed
- White Star Capital (https://capitalatlas.ai/funds/white-star-capital) — Series A, Series B, Series C
- Portage Ventures (https://capitalatlas.ai/funds/portage-ventures) — Series A, Series B, Series C
- Silicon Valley Bank — Series B
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Series B
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series B, Series C
- Argo Ventures — Series B
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series C
- Impact Engine (https://capitalatlas.ai/funds/impact-engine) — Series C
- Industrial Alliance and Financial Services Inc. — Series C
- Kensington Capital Partners — Series C
- NAVentures (https://capitalatlas.ai/funds/naventures) — Series C