Progressa, a Vancouver-based fintech company that is focused on helping sub-prime and near-prime Canadians seeking to improve their financial health, announced on Tuesday it has surpassed the $100 million milestone in funded loans for underserved Canadian consumers.
The company reported since 2013, Progressa has helped tens of thousands of Canadians improve their financial health by paying off outstanding collections items, improving their credit, and getting back to living their life. It was also noted that since inception, more than 9 out of 10 new customers who have paid off their collections with Progressa have seen a positive or neutral credit score migration. While sharing more details about the milestone, Ali Pourdad, CEO of Progressa, stated:
“Reaching this milestone is a testament to all of our passionate team members and stakeholders. Progressa is about our customers borrowing for the right reasons and rebuilding their financial futures. We are most proud that, along with the $100 million we have now surpassed, we’ve given our customers just as many reasons to rid themselves of their debt, and more importantly, their emotional stress. This allows them to begin to focus on a positive financial future. As Canadian household debt continues to trend in the wrong direction, Progressa’s mission will continue to revolve around helping well-intentioned Canadians find an avenue to get out of debt and rebuild their credit.”
Progressa claims that it is Canada’s fastest growing financial technology lender focused on changing the way pay cheque to pay cheque Canadians access and build credit.