Thinking Capital, Canada’s Fintech provider of credit and insights to small businesses and a member of the Purpose Unlimited family of companies today announced its new name: Driven, by Purpose.
The name <<Driven, by Purpose>> “celebrates the drive and the generative energy of small businesses and their vital importance to communities across the country.”
Stéphane Marceau, CEO of Driven, said:
“Giant corporations and global brands do not connect and humanize our local communities. People feel a far more personal connection to small businesses, their owners, and the people working with them,”
Stephane added:
“Whether they are e-commerce-focused or brick-and-mortar, are based in Shawinigan, Kelowna or downtown Toronto, small businesses are the heartbeat of our communities across the country. That is why we have made it our mission to empower small businesses to grow, to succeed financially, and to enhance Canadian’s lives in a way that matters on a human level.”
The Driven™ small business survey, performed by Angus Reid Forum, “highlights how despite the struggles of small businesses in recent months, most of them feel optimistic about the next six months when it comes to the financial health of their business, with 37 percent of owners anticipating real improvement in their financial situation in that time and 47 percent expecting stability.”
Other highlights from the survey included:
- Credit remains an essential need for small businesses, with 40 percent of respondents having relied on some form of debt in recent times.
- There is interest in cryptocurrency, with one-in-eight small or micro businesses interested in learning about cryptocurrency, but unsure of how to leverage it.
To help SMBs overcome the challenges of managing cash flow, forecasting when they will need capital, and knowing where there are cash flow gaps, Driven “developed Driven Insights™, a quick and easy-to-use solution powered by data science to make cash flow predictions for small businesses.”
It also automatically “generates visual comparisons of its sales trends versus similar businesses on an aggregate and anonymized basis.”
Together with the Driven Small Business Loan Solution™, SMBs “can access credit to support their growth initiatives in as little as 24 hours.”
The update also noted:
“Driven also today launched a limited-time promotion introducing the exciting world of crypto to small business owners by allowing them to earn crypto rewards. As noted in the survey findings above, a growing small business market segment wants to engage with crypto.”
Driven will be “leveraging Purpose Unlimited, a global leader in crypto innovation and asset management, to design a safe and secure way for small businesses to dip their toes into crypto waters.”
Som Seif, founder and Chief Executive Officer of Purpose Unlimited, stated:
“During the pandemic, we’ve witnessed the challenges they’ve faced, the likes of which they could never have anticipated or planned for. With the right resources and partners in their corner, they can accomplish almost anything. That belief is what caused us at Purpose Unlimited to enter the SMB fintech market a few years ago. No small business owner should miss out on the opportunities ahead in the Canadian market because they’re too busy working hard keeping the lights on.”
For more details on this update, check here.