Progressa, a short-term lending platform that recently raised an $11.4 million Series A, announced that it has partnered with Alpine Credits, a Vancouver-based private lender.
Progressa will bring its online platform to Alpine Credits companies, and said that the partnership is part of Progressa’s strategy to expand their lending offering following the Series A.
“This new partnership continues a recent trend in Canada that has seen traditional financial institutions teaming up with FinTech startups,” said Progressa CEO Ali Pourdad. “This is a great opportunity to align ourselves with a brand that Canadians know they can turn to when the banks say ‘no’ while at the same time we can help Alpine to stay ahead of the curve on the technology side.”
As Alpine Credits is known for targeting customers that struggle to get loans from banks, the partnership seems like a natural fit for Progressa, which is one of many FinTech startups targeting this demographic.
“Alpine Credits is one of Canada’s most trusted brands and we are excited to be working with a progressive lender that is always looking for ways to improve customer experience while changing life for the better for Canadians without traditional access to credit,” said Alpine Credits vice president, Arif Mulji. “We are also excited to be able to offer unsecured lending options to our loyal customer base.”