Borrowell

Proud moment! Our co-founder and COO Eva Wong was spotlighted by Destination Toronto sharing her favourite places around the city, showcasing why Toronto is a great place to live, work and build a business. 🌟 Dive into her recommendations and explore the best of Toronto with us! Check out the full feature here: https://lnkd.in/g6KfiyxR #SeeTorontoNow #CollisionConf

Start your day with some exciting news! ☀️ Our CEO Andrew Graham was recently featured on the Vassy Kapelos Show with guest host Robin Gill on iHeartRadio. 🎙️ Andrew shared insights about how our new first-of-its-kind service helps Canadian renters by allowing them to report up to 2 years of past rent payments to build their credit history. He also highlighted the benefits of making rent reporting more mainstream and how Borrowell is pioneering this service in Canada. 🇨🇦🏠💳 Catch the full interview to hear more: https://lnkd.in/grxdARBX

We’re thrilled to announce a groundbreaking service! Starting today, you can report up to 2 years of past rent payments to extend your credit history. 🎉 For the first time in Canada, renters can use their previous rent payments to build credit. Imagine the possibilities: better loan rates, qualifying for credit cards, and even homeownership. 🏠💳💸 Your rental history can now be a stepping stone toward achieving your financial goals. Here's how you can get started: 💸 Sign Up: Pay a one-time fee of $59 📝 Verify: Confirm your past rent payments 📊 Report: We’ll report them to Equifax Canada Plus, if your credit score doesn’t increase, we’ll offer you a money-back guarantee!* Our new service makes the credit system more fair for Canadian renters, and we are proud to support their journey toward financial wellness. ✨ Curious to see how it works? Find out more at https://lnkd.in/gsfXVtrM or read our official press release at https://lnkd.in/gvh6buEt. *Terms and conditions apply.

Our COO and co-founder Eva Wong recently spoke with MoneySense about the best and worst financial advice she's received, plus the biggest money lesson she's learned from Borrowell's 3 million members. https://lnkd.in/gDa-t4g3 #fintech #womenintech #canadiantech #personalfinance #torontostartups #borrowell

"It's an unfortunate feature of our system that if you pay a mortgage every month, that builds up your credit history, whereas if you're a renter, perhaps paying the same amount as your neighbour who's paying a mortgage, that traditionally hasn't counted towards your credit score." Our CEO and co-founder Andrew Graham recently spoke with Richard Zussman at Global News about the ways in which #Budget2024 is aiming to help make things fairer for renters. Borrowell has long advocated for rent payments to count towards building credit, which is exactly why we launched Rent Advantage: so that Canadian renters can report their rent to Equifax Canada and build their credit history when they make their payments on time. More at https://lnkd.in/gsfXVtrM #renters #creditscore #fintech #canadiantech #torontostartup #CDNpoli

I was in Ottawa yesterday for the release of the federal budget. Good to see progress on #openbanking, with the Financial Consumer Agency of Canada | Agence de la consommation en matière financière du Canada to oversee it and drive next steps. We need to move quickly together to meet the government's commitment to launch in 2025. Also good that the budget stressed the importance of giving renters the power to build credit by having rental payments included in credit scores and lending decisions. This gives momentum to solutions like Borrowell Rent Advantage--and the importance of moving quickly on open banking. Let's be clear that Canada is very far behind other rich countries in giving consumers ownership of their financial data. Fixing this will make life more affordable and create more choice and competition in our financial sector. Let's go! 🚀

"Between rising rent increases and overall cost of living, renters are often paying the biggest price for Canada’s housing crisis." Borrowell CEO and co-founder Andrew Graham recently spoke with Storeys about the importance of introducing open banking in Canada if we're going to be able to bridge the gap between homeowners and renters in the next year. https://lnkd.in/gGr_ADej #CDNpoli #openbanking #consumerdrivenbanking #budget24 #tech #torontotech #canadiantech #fintech #technews #rentreporting

At Borrowell, we’ve always thought it was unfair that renters often pay just as much for their accommodation as homeowners, but paying rent doesn’t count towards building a positive credit history in the way that mortgage payments do 🏠📈 That’s why we launched Rent Advantage, to empower Canadian renters to build their credit history, payment history and credit mix when they pay their rent on time. And the numbers speak for themselves! Our members are seeing considerable increases in their credit score when they report their rent to @Equifax Canada with Rent Advantage. Plus, 100% of members who didn’t have a credit score yet were able to establish a credit score after signing up. For more information about our first-of-its-kind service Rent Advantage™, head to https://lnkd.in/gsfXVtrM. *The 32-point increase is based on Rent Advantage members with an Equifax Canada ERS 2.0 credit score between 300-600 with no missed payments on any of their accounts. #technews #torontostartups #canadiantech #borrowell #rentreporting

"Canada’s credit system considers when someone pays their mortgage on time but largely ignores when someone pays rent on time." Our CEO and co-founder Andrew Graham recently spoke with Daily Hive and Isabelle Docto about the challenges facing renters and how we're working to make things fairer. https://lnkd.in/gEfgJiaJ #budget24 #CDNpoli #renters #rentersbillofrights #fairnessforeverygeneration #rentadvantage #torontostartups #technews #fintech #canadiantech

We are so excited to see the Prime Minister and Deputy Prime Minister's announcement of more rights and protections for renters, paving the way for Canadians to build credit with their rent. Below, our co-founder and CEO shares his thoughts on the announcement and why implementing Consumer-Driven Banking has never been more important. #budget2024 #CDNpoli #canadiannews #fintech #technews #openbanking