Borrowell is a leading financial technology company in Canada that aims to make financial prosperity possible for everyone. By providing access to credit education, innovative digital tools, and personalized experiences, Borrowell empowers Canadians to take control of their financial future. Borrowell has been a pioneer in the industry, offering free credit scores and reports from Equifax, Canada's largest credit bureau, and developing Canada's first AI-powered Credit Coach, Molly, who provides personalized tips to help users understand and improve their credit.
With the recent acquisition of Refresh Financial, Borrowell has expanded its offerings to provide secured cards and credit-building loans, making affordable credit accessible to underserved consumers. With over 2 million Canadians trusting Borrowell to help them make informed financial decisions, the company is committed to helping Canadians achieve long-term financial success.
Personalized Services to Offer the Best Experience
Borrowell is a financial technology company in Canada that offers a range of services to help people understand, manage, and improve their credit health. The company provides free credit scores and reports from Equifax, Canada's largest credit bureau. This allows users to access their credit information for free and monitor it on a weekly basis, without any negative impact on their credit score. This information is important as it helps people to track their credit health and understand how their financial decisions impact their credit score. Users can also receive personalized tips and recommendations to help them improve their credit scores.
Borrowell's Credit Builder program is designed to help people build their credit history and establish a good credit score. The program offers a $240 secured installment loan that helps people to build credit over 36 months. Unlike traditional cash loans, the loan amount is not disbursed upfront. Instead, the loan payments are reported to the credit bureaus, and at the end of 36 months, the borrower receives a direct deposit of the total savings of $240. This program is particularly helpful for people who have limited or no credit history, as it allows them to establish a credit score and improve their credit profile.
Borrowell also offers personalized loan recommendations to its users. Once a user signs up and checks their credit score, they can quickly compare personal loan options available to them. Borrowell works with over 50 financial partners in Canada to find loans that match the user's credit profile. Users can also see their likelihood of approval for different types of loans based on their credit profile. This service helps people find the best loan options available to them and make informed financial decisions.
For people looking to buy a home or refinance their existing mortgage, Borrowell offers a range of mortgage services. Borrowell provides users with their free credit report and offers personalized tips to help improve their credit score. This information is important for mortgage applicants as their credit score plays a big part in their ability to get favorable mortgage rates. Borrowell allows users to compare rates on a wide range of financial products and see their likelihood of approval based on their credit profile.
In addition, Borrowell offers a range of insurance products to meet the needs of its users. Borrowell works with top brokers and providers to help users find a home, auto, and other insurance products that best suit their financial profile. Borrowell also provides users with tips to help them improve their credit scores, which can often help them qualify for lower rates and premiums.
An Accomplished Entrepreneur with a Touch of Philanthropy
Eva Wong is an accomplished entrepreneur, co-founder, and Chief Operative Officer of Borrowell. She has an impressive background in the business and not-for-profit sectors, spanning over 15 years of experience in Canada and internationally. Her work experience includes working at Oliver Wyman, Maple Leaf Foods, and the United Nations Development Programme, where she honed her skills in strategy, business development, and project management.
Ms. Wong is a graduate of Queen’s School of Business and Harvard University, where she further developed her expertise in finance, management, and leadership. Her educational background has provided her with a solid foundation to excel in the business world and has enabled her to make a significant impact in the fintech industry.
As co-founder and Chief Operative Officer of Borrowell, Ms. Wong has played a critical role in building a business that strives to make financial prosperity accessible to everyone. Under her leadership, Borrowell has become a leading player in the Canadian fintech industry, offering innovative products and services that help Canadians manage their credit and achieve long-term financial success.
Beyond her professional accomplishments, Ms. Wong is also an active member of the community. She is a co-founder of Toronto Homecoming, an initiative aimed at connecting expatriates to career opportunities in Toronto. Additionally, she serves on the board of The Scott Mission, a non-profit organization that provides aid and support to the less fortunate in Toronto.
Outside of work, Ms. Wong enjoys baking with her kids, reading food blogs, and indulging in her love for lemon squares. She is a well-rounded individual, with a passion for both her work and her personal life.
Highly Recognized in the Fintech Industry
Borrowell has received several awards and recognitions in the fintech industry. One of the most notable awards was being named one of the top 100 fintech companies in the world by KPMG. This recognition is significant as it acknowledges Borrowell's role as a leading innovator in the financial technology sector. The company's efforts in providing personalized credit management tools, credit education, and credit-building products have clearly impressed industry experts.
Additionally, Borrowell ranked 4th on the Deloitte Technology Fast 50™ list of fastest-growing companies in Canada. This recognition is a testament to the company's growth trajectory and the success of its business model. Borrowell's focus on helping Canadians achieve financial prosperity has clearly resonated with consumers, leading to increased demand for its products and services.
Another significant recognition for Borrowell was making App Annie's list of Breakout Finance Apps for 2019. This recognition highlights the company's innovative use of technology to create user-friendly financial products that help Canadians manage their credit and achieve financial goals. The app has been well received by users, and the recognition from App Annie is an indication of the impact it has had in the industry.
These awards and recognitions signify Borrowell's contribution to the fintech industry and its continued commitment to providing Canadians with access to credit education, innovative digital tools, and personalized experiences to help them achieve financial prosperity.