# Creditloans Canada Financing

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/creditloans-canada-financing

- Industry: Financial Services
- Headquarters: Vancouver, Canada
- Website: www.progressa.com
- Total disclosed funding: $12M
- Latest round: Series B (Aug 14, 2018)
- Investors on record: 6

## About

Creditloans Canada Financing Inc. specializes in providing personalized installment loans to Canadians, aiming to assist individuals in consolidating debts and improving their credit scores through tailored financial solutions.Founded in 2013 and headquartered in Vancouver, Canada, Creditloans Canada Financing Inc. focuses on offering financial products to assist Canadians facing credit challenges. The company has engaged in 5 deals, with its most recent deal occurring on November 22, 2018. This involved a VENTURE DEBT funding of USD 13.00 mn from Alternative Credit Fund, bringing the total amount raised to USD 12.00 mn. The company is led by CEO Nathan Slee.Creditloans Canada Financing Inc. offers installment loans specifically designed to meet the financial needs of Canadians. Their primary product is a personal loan that helps clients consolidate debts and improve their credit scores by alleviating the stress of collection calls. The company adopts a personalized approach, collecting detailed financial information to recommend loan amounts suited to clients' budgets, thereby serving a diverse customer base across Canada.The company generates revenue through interest payments on its installment loans, which are offered directly to consumers. Clients can apply for loans online or by phone, and the approval of their applications initiates the transaction process. The revenue model is based on the interest clients pay over the duration of their loans, structured to assist with debt repayment and financial obligation management, fostering a sustainable relationship with borrowers.In November 2018, Creditloans Canada Financing Inc. secured USD 13.00 mn in VENTURE DEBT funding, which will be utilized to enhance its product offerings and expand its market reach. The company plans to develop new financial products aimed at providing additional support to clients. Specific regions for market expansion have not been disclosed yet, but the funding will support initiatives to broaden service availability and enhance customer experiences.

## Funding rounds

- Series B, Aug 14, 2018, $12M — Paradigm Capital, Canaccord Capital, Eight Capital, Gravitas Investments
- Series A, Nov 30, 2015 — Conconi Growth Partners, Cypress Hills Partners

## Investors

- Conconi Growth Partners (https://capitalatlas.ai/funds/conconi-growth-partners) — Series A
- Cypress Hills Partners — Series A
- Paradigm Capital — Series B
- Canaccord Capital — Series B
- Eight Capital — Series B
- Gravitas Investments — Series B