Toronto-based alternative lender Lendified announced today that it has joined the MaRS FinTech cluster. Launched in only August of this year, Lendified joins major Canadian financial services players like Interac and TMX as cluster members.
“With FinTech truly exploding in Canada and around the globe, it is important for us to be part of the MaRS FinTech Cluster,” said Troy Wright, CEO and founder of Lendified. “We will have the opportunity to share our financial services experience, data and technology expertise with high-growth potential startups as well as collaborate alongside other pioneering financial technology professionals.”
While a new company, Lendified, which focuses on lending capital to Canadian small business, has an executive board with decades of Canadian financial service experience at institutions like Scotiabank and Equifax. The startup also produces its own Canadian Small Business Index.
“Small business is the life-blood of the Canadian economy,” said Wright. “They deserve access to the same financing tools as their big-business cousins, but they need it faster, with less paperwork and are less reliant on a team of financial advisors to guide through often complicated processes.”