Borrowell raises $25 million to fund acquisition of Refresh Financial
Borrowell has secured $25 million CAD to support its recently closed acquisition of Refresh Financial and overall growth, as financial institutions return their focus to customer acquisition following the fallout of COVID-19.
The all-equity financing included a number of new investors for Borrowell, such as Kensington Capital Partners, BDC Capital, iA Financial Group and Impact Engine, a Chicago-based social impact-focused investment fund. Existing investors Portag3 Ventures, White Star Capital, NAventures (the venture arm of National Bank of Canada) and Equitable Bank also participated with new funding.
“We’re getting back to very much where we were pre-COVID.”
Borrowell raises $25-million funding round, closes Refresh acquisition Despite the deep bench of investors and a rush of IPOs in the sector, Borrowell doesn’t feel pressure to go public any time soon
Author of the article: Catherine McIntyre, The Logic
Publishing date: Feb 22, 2021 • 2 days ago • 4 minute read • Andrew Graham, co-founder and CEO of Borrowell, at the company s offices in 2016. Photo by Peter J. Thompson/National Post files
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Toronto-based fintech company Borrowell has raised $25 million in equity from a slate of new and existing investors in a deal to secure its acquisition of Refresh, a Kelowna, B.C.-based firm that helps customers improve their credit ratings.
Dividend Investors: Buy Canada’s Cheapest Bank Stock Now
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Equitable Group(TSX:EQB) is a growing Canadian financial services business that operates through the company’s wholly owned subsidiary, Equitable Bank. Equitable Bank is a Schedule I Bank with total assets under management of over $35 billion.
The bank serves retail and commercial customers across Canada with a range of savings and lending solutions, offered under the Equitable Bank, EQ Bank, and Equitable Trust brands. Recently, Equitable Bank acquired Bennington, a Canadian equipment leasing company that finances a wide range of assets. Measured by assets, Equitable Bank is the ninth-largest independent bank in Canada.
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When it comes to investing in the equity markets, people are always on the lookout for stocks that have the potential to outperform the broader markets over the long term. This means you need to identify stocks that have the ability to generate sustainable profits and predictable cash flows.
We’ll look at three companies on the TSX that can beat the index this year.
Equitable Group
Equitable Group (TSX:EQB) is a Canada-based financial services company that operates through its wholly-owned subsidiary Equitable Bank. EQ Bank is now Canada’s ninth-largest independent Schedule I bank and is a market leader in residential lending. It also offers products in the commercial lending space and a slew of savings solutions to Canadians.