Grouplend, Canada’s leading online lending platform, announced today that it has rebranding itself as Grow Financial. Since launching in 2014, the company’s model has evolved from marketplace lending to a fintech platform, using cutting-edge software and advanced data analytics to create revolutionary financial services that extend far beyond loans. Let it Grow!
“The name ‘Grouplend’ is no longer symbolic of the direction that our business is headed,” commented Kevin Sandhu, Founder and CEO of Grow. “Grow represents our commitment to building and nurturing technology-enabled financial services products to improve the lives of Canadians.”
As it transitions to Grow, the company will continue to operate its online lending platform as the anchor product of its offering. In addition to its new name, Grow announced the release of RateTracker, a new product that monitors an individual’s credit metrics on a monthly basis and sends an email or text with an updated personalized interest rate. The subscription is free and does not affect the individual’s credit score.
“A lack of transparency in the financial services industry has resulted in consumers’ inability to truly monitor their financial health. People end up overpaying because they don’t always know what they should be paying,” observed Sandhu. “RateTracker solves this. It can be used as a way to monitor your financial health every single month or as overdraft protection on your credit card. If you ever want to pay off your credit card balance instead of incurring high interest charges, you’re just a few swipes or clicks away from a loan at the rate that was quoted in your monthly update.”
In addition to serving Canadians, the Vancouver-based platform hopes the name change paves the way for Grow to partner with other leading Canadian financial institutions.