Area served Canada Website www.poweredbygrow.com Founded 2014 | Products personal loans Type of business Private Company | |
Industry Financial Technology, Financial Services, Consumer Finance | ||
Grow (formerly Grouplend) is a private Canadian online lending company, headquartered in Vancouver, British Columbia. It is the first peer-to-peer online lender to be established in Canada. Grow's platform enables borrowers to obtain a loan, the loans are then sold to private accredited investors. In August 2015 they closed their series A round of financing at $10.2 million, a round that was led by Vancouver angel investors Markus Frind, founder of dating website Plenty of Fish, and Lance Tracey, founder of Internet hosting services company Peer 1 Hosting. On February 10, 2016 Grow announced its first partnership with a Canadian financial institution: First West Credit Union. The partnership will enable members of First West Credit Union to access the range of Grow product offerings directly through the British Columbian financial institution. The announcement with First West was followed on February 25, 2016, by a second partnership announcement with Conexus Credit Union, the largest credit union in Saskatchewan, in order to bring its online lending services to the province.